Indian Indices Open Lower Amid Market Caution Over West Asia Ceasefire
Indices drift lower in early trade; breadth negative
Business Standard
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Key Indian stock indices opened lower with the S&P BSE Sensex down 470.31 points to 78,803.02 and the Nifty 50 down 122.25 points to 24,458.18. Investor sentiment remains cautious due to uncertainty surrounding the ceasefire in the West Asia conflict, while market participants are also monitoring upcoming Q4 earnings.
- 01S&P BSE Sensex fell by 470.31 points or 0.59%.
- 02Nifty 50 index declined by 122.25 points or 0.50%.
- 03Foreign portfolio investors sold shares worth ₹1,918.99 crore.
- 04Domestic institutional investors were net buyers at ₹2,221.27 crore.
- 05Brent crude oil prices decreased by 0.24% to $98.24 per barrel.
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In early trading, the Indian stock market experienced moderate losses, with the S&P BSE Sensex declining by 470.31 points (0.59%) to 78,803.02 and the Nifty 50 index falling 122.25 points (0.50%) to 24,458.18. Investor caution is prevalent due to uncertainties regarding the ceasefire in the West Asia conflict, particularly following U.S. President Donald Trump's announcement of an extension until Iranian leaders submit a unified proposal. The broader market reflected a negative breadth, with 1,707 shares rising and 1,350 shares falling. Foreign portfolio investors (FPIs) sold shares worth ₹1,918.99 crore, while domestic institutional investors (DIIs) were net buyers, acquiring shares worth ₹2,221.27 crore. Additionally, the yield on India's 10-year benchmark federal paper rose to 6.918%. In commodities, Brent crude oil prices fell to $98.24 per barrel. Global markets also showed mixed results, with Asian markets reacting to the ceasefire announcement and Japan's Nikkei 225 reaching a new record high.
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The decline in stock indices may affect investor confidence and could influence decisions on future investments and spending. If the market continues to decline, it may lead to increased volatility in the financial sector.
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