Sensex falls 325 points while Nifty slips below 23,700 as Indian markets open lower amid global concerns (Img: Pinterest)
Mumbai: Indian equity benchmarks started Tuesday’s trading session on a weak note as investors remained cautious amid rising crude oil prices and global uncertainties. The Sensex and Nifty witnessed selling pressure during early trade, reflecting concerns over inflation and economic challenges.
The BSE Sensex declined 325.85 points, or 0.43%, to open at 75,806.96. Meanwhile, the NSE Nifty 50 slipped 82.30 points, or 0.35%, to trade at 23,696.85 in the opening session.
The decline in domestic markets came as Brent crude prices remained close to the $97 per barrel mark. Higher crude prices are a concern for India, which depends significantly on oil imports, as they can increase costs and impact inflation levels.
Investors are also keeping a close watch on global developments, including geopolitical tensions and expectations around interest rate decisions.
Market movement remained mixed, with several stocks witnessing gains despite overall weakness. During early trading hours, 1,365 shares advanced, while 1,037 shares declined. Around 179 stocks remained unchanged.
Among the major Nifty losers were Shriram Finance, Tech Mahindra, Mahindra & Mahindra, InterGlobe Aviation and Bharti Airtel.
On the other hand, HDFC Life, Eternal, Bharat Electronics, Hindalco Industries and Bajaj Finserv were among the stocks showing strength.
Market experts said Indian equities are facing pressure due to multiple factors, including high crude prices, foreign market trends, selling in technology stocks and uncertainty over global interest rates.
Analysts believe weakness in large-cap stocks could create opportunities for long-term investors, especially in companies with strong fundamentals. However, they advised investors to remain cautious amid continued market volatility.
The upcoming market trend will depend on global cues, crude oil movement, foreign investor activity and key economic developments.
Experts have advised investors to focus on quality stocks and avoid taking short-term decisions based on market fluctuations.
