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Indian markets opened lower on Friday amid global weakness and foreign fund outflows. Sensex plunged over 630 points and Nifty fell 185 as FIIs sold shares worth ₹3,263 crore despite domestic investors’ buying support.
Sharp Decline in Early Trade: Sensex and Nifty Both in the Red
New Delhi: The Indian stock market opened lower on Friday and witnessed a sharp decline in the initial trading session. The Sensex fell 631.93 points to 82,679.08, while the Nifty dropped 184.55 points to 25,325.15. This decline in the market was attributed to selling by foreign investors and weak cues from global markets.
Share Market Update: Stock Market starts week in the green, brings relief after six days of decline
The stock market has been declining for two consecutive days. According to experts, there are two main reasons behind this—
Foreign Capital Outflow (FII Sell-off): Foreign institutional investors (FIIs) are continuously selling Indian shares. On Thursday, they sold shares worth approximately ₹3,263.21 crore.
Weak Global Market Sentiment: Several major global markets, including the US and China, witnessed weakness, which also impacted the confidence of Indian investors.
In addition, the price of international Brent crude oil fell by 0.30% to $63.57 per barrel, putting pressure on the energy sector and the rupee exchange rate.
Indian Stock Market Faces Heavy Losses as Foreign Investors Exit
Most of the 30 companies included in the Sensex closed in the red.
Biggest Losers: Shares of Bharti Airtel, HCL Tech, Tech Mahindra, NTPC, Tata Consultancy Services (TCS), and Maruti saw the biggest declines.
Gainers: ITC, ICICI Bank, Eternal, and Power Grid registered marginal gains.
In Asian markets, Japan's Nikkei 225, South Korea's KOSPI, and Hong Kong's Hang Seng were slightly higher, but China's SSE Composite saw a marginal decline.
On the other hand, US markets closed negatively on Thursday, which also weakened investor sentiment in the Indian market. 📈 Domestic Investor Buying
While foreign investors were selling, domestic institutional investors (DIIs) remained active buyers in the market. They purchased shares worth ₹5,283.91 crore on Thursday. This provided some stability to the market, although it wasn't entirely successful in preventing the initial decline.
Share Market Updates: Indian Stock Market opens with minor fluctuations amid mixed global cues
Overall, Friday was a weak start for the Indian stock market. The market remained under pressure due to continuous selling by foreign investors and global economic uncertainties. However, the activity of domestic investors offers hope that the market may see a recovery in the coming weeks.
