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Indian benchmark stock indices opened lower on Monday (Img: X)
New Delhi: Indian benchmark stock indices opened lower on Monday as renewed geopolitical tensions between the US and Iran raised concerns over global energy supplies and pushed crude oil prices higher. The cautious sentiment also impacted Asian markets, leading to a weak opening for domestic equities.
The BSE Sensex fell 133.78 points or 0.17% to open at 77,130.73, while the Nifty 50 declined 58.10 points to start trading at 24,117.55.
Investors remained cautious due to rising geopolitical risks and concerns over possible changes in global interest rate policies. Higher crude oil prices and uncertainty in international markets created a risk-off environment.
Market experts said that concerns over inflation and potential rate decisions by the US Federal Reserve could continue influencing investor sentiment.
Among Sensex-listed companies, Eternal, Tech Mahindra, BEL, Adani Ports and HDFC Bank witnessed gains in early trade.
Eternal emerged as the top performer, rising around 0.49%. On the other hand, Sun Pharma, IndiGo, Kotak Mahindra Bank, NTPC and UltraTech Cement were among the major losers. Sun Pharma declined nearly 0.99% during early trading.
Foreign Institutional Investors (FIIs) remained cautious and sold equities worth ₹5,039.80 crore on August 28.
Meanwhile, Domestic Institutional Investors (DIIs) provided support to the market by purchasing shares worth ₹5,183.93 crore during the same period.
Asian markets witnessed selling pressure amid renewed global tensions.
Japan’s Nikkei 225 declined 735.56 points or 1.11% to trade at 65,670. Hong Kong’s Hang Seng Index fell 173.79 points or 0.66%, while South Korea’s Kospi dropped 97.18 points or 1.45%. China’s Shanghai Composite Index also slipped 7.72 points or 0.20% in early trade.
