Sensex Opens 95 Points Lower; Nifty Starts Day at 25,849 Amid Weak Financial and IT Stocks

Market Update at 9:35 AM: Indian stock markets opened lower on Friday, despite positive cues from Asian peers. The decline was led by weakness in financial, IT, and metal shares.

At the opening bell, the BSE Sensex was at 84,310, down 95 points or 0.11 per cent, while the Nifty50 started at 25,849, lower by 29 points or 0.11 per cent.

Among the Sensex constituents, Asian Paints, Tata Steel, HDFC Bank, Axis Bank, ICICI Bank, Sun Pharma, and Adani Ports were the major laggards in early trade.

However, broader markets showed some resilience, with the Nifty MidCap index rising 0.08 per cent and the Nifty SmallCap index gaining 0.35 per cent in early deals.

Pre-Market Update at 7:40 AM: Indian equity markets are expected to start Friday’s session on a cautious note, following mixed global cues. Trends on the GIFT Nifty indicate that the Nifty 50 may open higher by 16 points, as it was trading at 26,058 around 7:16 AM.

In early trade, Asian markets traded mostly higher, with Japan’s Nikkei hitting a new lifetime high. However, US markets ended lower overnight as technology stocks dragged the major indices. The Dow Jones Industrial Average slipped 109.88 points or 0.23 per cent to 47,522.12, the S&P 500 dropped 68.25 points or 0.99 per cent to 6,822.34, and the Nasdaq Composite declined 377.33 points or 1.57 per cent to 23,581.14.

On Thursday, October 30, Foreign Institutional Investors (FIIs) were net sellers, offloading equities worth Rs 3,077.59 crore. Domestic Institutional Investors (DIIs) maintained their buying momentum, purchasing equities worth Rs 2,469.34 crore, marking their sixth consecutive session of net inflows.

On Thursday, benchmark indices ended lower as HDFC Bank and Reliance Industries dragged the market. The Nifty 50 slipped 176.05 points or 0.68 per cent to close at 25,877.85, while the Sensex declined 368.98 points or 0.70 per cent to 84,404.46. India VIX stayed steady above 12. Out of 11 sectors, only two ended in the green, while Nifty Pharma fell 0.59 per cent after a 3.89 per cent decline in Dr. Reddy’s due to a regulatory setback in Canada. Broader markets mirrored the benchmarks, with both Nifty Midcap and Smallcap indices closing in the red.

In global developments, the European Central Bank (ECB) kept its key interest rate unchanged at 2 per cent for the third consecutive meeting, citing stability as economic risks ease. Meanwhile, US President Donald Trump announced a trade truce with China, noting an agreement with President Xi Jinping on rare-earth metals and tariffs.

Gold prices continued their upward trend, heading for a third consecutive monthly rise. Spot gold rose 0.3 per cent to USD 4,034 per ounce, gaining 4.5 per cent for the month, while December futures fell 1.1 per cent to USD 3,955 per ounce. The US dollar index remained steady at 99.478 after touching a three-month high.

Crude oil prices weakened, on track for a third straight monthly decline. Brent crude futures fell 0.40 per cent to USD 64.74 per barrel, and US West Texas Intermediate (WTI) crude eased 0.43 per cent to USD 60.31 per barrel.

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Disclaimer: The article is for informational purposes only and not investment advice.