Stock Markets Slip As Sensex Opens Above 84,400, Nifty Tests 26,700

In the pre-open session, the Sensex was trading over 84,400, down by nearly 100 points and the Nifty tested 25,700 at 9:02 AM.

The rupee strengthened sharply by over 1 per cent in early trade, briefly touching the 89 level against the US dollar amid heavy dollar selling by banks.

Source : ABPLIVE AI

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The Indian benchmark indices started trading lower on Thursday as the Sensex opened at 84,453.53 or 106 points lower and the Nifty opened at 25,787.05 or 31 points lower. 

In the 30-share BSE Sensex, among the top gaining stocks were Infosys, HCLTech, TechMahindra, TCS and the State Bank of India. Meanwhile, the laggards included stocks like PowerGrid, Reliance Industries, Bajaj Finserv, Bharti Airtel and Adani Ports.

In the broader markets, the Nifty Microcap 250 declined 0.46 per cent and the Nifty Midcap 50 gained 0.7 per cent as volatility remained high. Sectorally, Nifty Auto fell 0.90 per cent and Nifty IT jumped 1.02 per cent.

In the pre-open session, the Sensex was trading over 84,400, down by nearly 100 points and the Nifty tested 25,700 at 9:02 AM.

The Gift Nifty was trading at 25,866 or 6 points lower at 8:49 AM.

Cautious Global Sentiment Weighs on Emerging Markets

Foreign investors are withdrawing funds as emerging markets come under pressure, even as developed economies continue to show resilience. This reflects growing investor caution towards emerging markets, said Vinod Nair, Head of Research at Geojit Investments Limited.

Heavyweight Stocks Drag Markets Lower

Broad-based weakness was seen across sectors, driven by selling in heavyweight stocks. Muted cues from global markets further dented investor sentiment, said Ajit Mishra, SVP – Research at Religare Broking.

Rupee Rebound Offers Limited Relief

Analysts noted that a rebound in the rupee from record low levels provided only temporary relief, with global uncertainty and persistent foreign selling capping any meaningful upside. The rupee strengthened sharply by over 1 per cent in early trade, briefly touching the 89 level against the US dollar amid heavy dollar selling by banks. However, it later gave up part of the gains to close at 90.38, up 55 points from its previous record closing low of 90.93.

FII Outflows Continue, DIIs Step In

Foreign Institutional Investors (FIIs) remained net sellers, offloading equities worth Rs 2,381.92 crore on Tuesday. In contrast, Domestic Institutional Investors (DIIs) provided support by purchasing shares worth Rs 1,077.48 crore, according to exchange data.

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