The Indian benchmark indices opened marginally lower on Thursday as global cues and volatility weighed on investor sentiment. Sensex dropped 91 points to 81,807, while Nifty fell 24 points to 25,081 by 9.25 am.
Concerns over FII outflows and US visa curbs dominated market sentiment. Traders awaited Q2 corporate earnings and potential India-US trade developments. Broadcap indices, Nifty Midcap 100 and Nifty Smallcap 100, fell slightly. Top gainers included Hindalco, Dr. Reddy’s Labs, ONGC, Tata Steel, and Tata Consumer. Major losers were Tata Motors, Bajaj Finance, Titan, Maruti Suzuki, and Hero MotoCorp.
Among sectors, Nifty IT declined 0.23 per cent, Nifty Auto 0.21 per cent, and Nifty Private Bank 0.14 per cent. Minor gains were seen in Nifty Metal and Nifty Pharma. Analysts noted that the Nifty index struggled to cross the 25,278-25,330 range amid selling pressure. Immediate resistance is at 25,100 and 25,250, while support lies at 25,000 and 24,900.
US markets closed lower, with Nasdaq down 0.34 per cent and Dow dropping 0.37 per cent. Asian markets mostly rose, including Shanghai up 0.19 per cent and Shenzhen up 1.29 per cent. On Wednesday, FIIs sold equities worth Rs 2,425 crore, while DIIs bought Rs 1,211 crore.
