Indian stock markets, including the Sensex and Nifty, saw early declines driven by significant selling in HDFC Bank and persistent geopolitical uncertainties, impacting investor sentiment across various sectors.
Key Points
- Benchmark indices Sensex and Nifty opened lower, influenced by selling in HDFC Bank and persistent geopolitical uncertainty.
- Major laggards among Sensex firms included HCL Tech, HDFC Bank, NTPC, Mahindra & Mahindra, Power Grid, and Tata Consultancy Services.
- Geopolitical tensions are identified as a continuing factor weighing on global markets, impacting investor sentiment.
- Foreign Institutional Investors (FIIs) remained net buyers, purchasing equities worth Rs 502.63 crore on Wednesday.
- Global oil benchmark Brent crude traded lower, reflecting broader market cautiousness.
Benchmark indices Sensex and Nifty traded lower in early deals on Thursday as selling in blue-chip HDFC Bank and persistent geopolitical uncertainty weighed on markets' sentiment.
The 30-share BSE Sensex dipped 45.17 points to 77,422.70 in early trade.
The 50-share NSE Nifty skidded 6.40 points to 24,202.45.
Further into the trade, the BSE benchmark traded 108.80 points down at 77,368.68, and the Nifty quoted 26.15 points lower at 24,189.70.
Winners and Losers on Dalal Street
Among the 30 Sensex firms, HCL Tech, HDFC Bank, NTPC, Mahindra & Mahindra, Power Grid and Tata Consultancy Services were the major laggards.
Kotak Mahindra Bank, Tech Mahindra, Bharat Electronics and Bajaj Finance were among the winners.
How Global Markets Fared
"Geopolitical tensions continue to weigh on markets," V K Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.
Brent crude, the global oil benchmark, traded 0.44 per cent lower at USD 87.45 per barrel.
In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index and Shanghai's SSE Composite index quoted higher, while Hong Kong's Hang Seng index traded lower.
US markets ended in negative territory on Wednesday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 502.63 crore on Wednesday, according to exchange data.
