Markets Open Lower as RBI Rate Hike, Oil Prices and FII Selling Weigh on Sentiment
What Happened
Indian benchmark indices opened in the red for a second straight session. The Sensex opened around 72,430, down over 200 points, while the Nifty slipped below 22,600, as investors reacted to the RBI's recent 25-basis-point rate hike, elevated crude oil prices, continued foreign investor selling, and mixed global market cues. Current Status (around 9:45 AM IST): Sensex: ~72,220 to 72,315, down 0.45%-0.57% Nifty 50: ~22,450 to 22,483, down 0.53%-0.67%
Key Takeaways
Indian markets are trading lower as investors assess the impact of the RBI's hawkish policy stance and global uncertainties. IT stocks are providing some support, but concerns over oil prices, foreign selling, and interest rates are keeping overall sentiment subdued.