Stock Market Opens Lower: Sensex Drops 138 Points, Nifty Below 24,750 As Tariff Uncertainty Looms
In the previous trading session, Indian equity benchmarks fell for the second straight session, weighed down by broad-based selling
Indian benchmark indices started the day on a cautious note Friday morning as US tariffs weighed down investors' sentiments, with the BSE Sensex slipping 138.54 points or 0.17 per cent to 81,047.04. Similarly, the NSE Nifty began the session down 47.25 points or 0.19 per cent, at 24,721.10. The dip reflects weak global cues and investor caution ahead of key earnings announcements.
At the opening bell, market breadth was nearly balanced with 142 stocks advancing, 140 declining, and 22 remaining unchanged. On the Nifty, major gainers included HUL, Tata Consumer, Hero MotoCorp, Asian Paints, and Maruti Suzuki. On the flip side, Dr. Reddy’s Labs, ONGC, Cipla, Tata Steel, and JSW Steel emerged as top laggards.
Sectoral performance was mixed on Thursday, with a mild bearish undertone. Nifty Metal led the decline, slipping 1.02 per cent, followed by Nifty IT, which fell 0.77 per cent. Nifty PSU Bank and Oil & Gas were also in the red, down 0.53 per cent and 0.44 per cent, respectively. Other indices—including Auto, Bank, Consumer Durables, Private Bank, Midcap 100, and Smallcap 100—edged lower.
On the positive side, Nifty FMCG stood out with a 1.36 per cent gain, while Nifty Media added 0.40 per cent. Sectors like Energy, Infra, Realty, and Pharma remained largely flat. Meanwhile, India VIX rose nearly 2 per cent to 11.77, hinting at a slight increase in market volatility.
Dr VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted that the August series has opened on a soft footing, following a 3.1 per cent decline in the Nifty during July. "In the near-term the market will be influenced by the tariff-related news. Since the date of implementation of the modified tariff rates is August 7th, that gives countries time to negotiate and bring the tariffs down. That may happen," he added.
Previous Trading Session
In the previous trading session, Indian equity benchmarks fell for the second straight session, weighed down by broad-based selling. The Nifty slipped below the 24,800 level, closing at 24,768.35, down 86.70 points or 0.35 percent. The BSE Sensex shed 296.28 points, or 0.36 percent, to end at 81,185.58. Market breadth remained negative, with 2,365 stocks declining, 1,490 advancing, and 135 unchanged on the BSE.
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