Stock Market Slips At Open; Sensex Down 165 Points, Nifty Below 24,530

In the previous trading session on Wednesday, Indian equity benchmarks closed lower for the third consecutive day, weighed down by weak global cues and ongoing profit booking

Out of the total traded stocks, around 751 were in the green, 1,433 declined, while 150 remained unchanged

Source : PTI

Indian benchmark indices opened on a subdued note on Thursday, despite positive global cues. The BSE Sensex declined 165.47 points, or 0.21 per cent, to trade at 80,378.52 in early trade, while the NSE Nifty slipped 53.45 points, or 0.22 per cent, to 24,520.75. Selling pressure was seen across key sectors, with investors turning cautious ahead of key economic data and global developments.

Out of the total traded stocks, around 751 were in the green, 1,433 declined, while 150 remained unchanged.

On the Nifty, Hero MotoCorp, Cipla, Bajaj Finserv, Maruti Suzuki, and JSW Steel emerged as top gainers. Meanwhile, Kotak Mahindra Bank, Tata Steel, SBI, Coal India, and Jio Financial were among the key laggards in early trade.

VK Vijayakumar, Chief Investment Strategist, Geojit Investments, noted, "The 21 day window for the additional 25 per cent tariff to take effect leaves room for negotiation and an eventual deal with the US. But there is huge uncertainty surrounding the trade policy and to what extent both nations will be willing to make compromises. President Trump, fresh from the successes he has extracted in deals with others including the EU, is unlikely to budge significantly from his unjustified stand. Unfortunately for India, the US is bargaining from a position of strength. India’s response has been mature and measured."

"Market is unlikely to panic but weakness will continue in the near-term. Since uncertainty is high investors should be cautious in their approach. At least in the near-term, export-oriented sectors will remain weak. Domestic consumption themes like banking and financials, telecom, hotels, cement, capital goods and segments of automobiles will remain resilient," he added.

Previous Trading Session

Indian equity benchmarks closed lower for the third consecutive session on Wednesday, weighed down by weak global cues and ongoing profit booking. The BSE Sensex slipped 166.26 points, or 0.21 per cent, to end at 80,543.99, while the NSE Nifty lost 80.10 points, or 0.32 per cent, settling at 24,569.45. Investor sentiment remained subdued after the Reserve Bank of India kept the repo rate unchanged at 5.5 per cent, prompting caution across the broader market.