Markets Open Weak as Global Headwinds Weigh on Sentiment
What Happened
Indian equities opened lower on Thursday, tracking weak global cues, elevated crude oil prices, higher US bond yields, and continued foreign investor selling. Early trade saw the Sensex falling around 100-250 points, while the Nifty slipped below the 22,600 mark. IT stocks provided some support, with Infosys, TCS, HCL Tech, and Tech Mahindra among the gainers, while auto, cement, and select industrial stocks remained under pressure. Current Status (as of around 10:00 AM IST) Sensex: ~72,350-72,400, down about 0.1%-0.3% Nifty 50: ~22,500-22,580, down about 0.2%
Key Takeaways
Indian markets remain under pressure at the start of October as investors grapple with rising crude oil prices, elevated US Treasury yields, and persistent FII outflows. However, strength in banking and IT stocks is helping limit losses, suggesting the market is seeing selective buying despite the cautious mood.