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Indian equity markets indicated a weak opening on Thursday as benchmark indices traded lower in pre-open deals. The Sensex slipped over 180 points, while the Nifty50 hovered near the 26,100 mark. Weak global cues and cautious investor sentiment weighed on markets.
Indian Stock Market Signals Weak Start as Sensex Falls 183 Points
Mumbai: The stock market opened on a weak note on Thursday. In pre-open trade, the BSE Sensex fell 183.12 points, or 0.22 percent, to 84,778.02. The Nifty 50 also declined 34.25 points, or 0.13 percent, to around 26,106.50. These data indicate that the market may start under pressure.
This decline comes at a time when global cues remain mixed. Investors are currently monitoring key economic data, crude oil prices, and foreign market movements. Banking, IT, and auto sector stocks are showing slight weakness in early trade, while select mid-cap and small-cap stocks remain volatile.
Meanwhile, the Indian rupee also opened weak on Thursday. After two days of gains, the rupee slipped 6 paise to 90.94 against the dollar. The rupee came under pressure due to a strengthening dollar and cautious foreign investors. Market experts believe the rupee's movement in the coming sessions will depend on global cues, US bond yields, and crude oil prices.
Overall, investors are advised to remain cautious in today's trading. The market's future direction will be determined by domestic and global cues, as well as sectoral movements.