Indian equity indices open lower amid mixed global cues
Sensex trades lower, Nifty falls by 118 points Indian equity indices opened lower on Friday following mixed signals from global markets. As of 9:48 a.m., the Sensex was down by 430 points or 0.52% at 81,771, while the Nifty fell by 118 points or 0.48% to 25,023. Despite the drop, the broader market trend remains […] The post Indian equity indices open lower amid mixed global cues appeared first on PGurus.
Sensex trades lower, Nifty falls by 118 points
Indian equity indices opened lower on Friday following mixed signals from global markets. As of 9:48 a.m., the Sensex was down by 430 points or 0.52% at 81,771, while the Nifty fell by 118 points or 0.48% to 25,023.
Despite the drop, the broader market trend remains positive. On the National Stock Exchange (NSE), 1,138 shares were trading in the green, compared to 992 shares in the red.
Choice Broking noted, “After a gap down opening, Nifty can find support at 25,050, followed by 25,000 and 24,950. On the higher side, 25,250 may act as an immediate resistance, with further resistance levels at 25,300 and 25,350.”
Selling pressure is evident in midcap and smallcap stocks. The Nifty midcap 100 index is down by 330 points or 0.56% at 59,117, while the Nifty smallcap 100 index decreased by 33 points or 0.17% to 19,487.
India’s volatility index (India VIX) has risen by 5% to 14.93.
Sector performance
Among the indices, PSU Bank, energy, infrastructure, media, and commodity sectors are major losers. Conversely, pharma, FMCG, metal, and IT sectors are showing gains.
In the Sensex pack, notable gainers include Bajaj Finserv, Bajaj Finance, Asian Paints, HUL, Wipro, IndusInd Bank, TCS, Bharti Airtel, Tech Mahindra, Nestle, Tata Motors, and Tata Steel. On the losing side are SBI, UltraTech Cement, Reliance, NTPC, ICICI Bank, HDFC Bank, HCL Tech, and Infosys.
Asian markets exhibited mixed trading patterns. Tokyo, Shanghai, and Seoul showed declines, while Jakarta and Bangkok were trading in the green. The US markets also closed mixed on Thursday.
Market experts suggest that despite the dip, the Indian economy remains strong. They point to a 47% growth in FDI in Q1 FY25 and a decline in Brent crude prices to below $73 as positive indicators. Financial stability and robust economic growth are noted, but concerns about elevated valuations remain. Investors are advised to focus on buying fairly valued quality stocks during market declines.
“The near-term trend in the market will be influenced by the US jobs data to be published tonight,” experts added.
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The post Indian equity indices open lower amid mixed global cues appeared first on PGurus.
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