Domestic equity markets opened under pressure on Friday, posting marginal declines amid weak global cues. Investors remained cautious ahead of the GDP data scheduled for release later in the day.
The Nifty 50 opened at 25,459.85, down 36.70 points or 0.14 per cent. The BSE Sensex began the session at 82,220.48, lower by 28.13 points or 0.03 per cent.
Market experts said global developments are currently shaping domestic sentiment.
Ajay Bagga, Banking and Market Expert, told ANI, “Indian markets are set to open lower. Global cues are dominating, with IT emerging as the worst-performing sector, followed by the IT-dependent real estate segment. Foreign Portfolio Investors (FPIs) have been net buyers in February, which is positive. India will release its quarterly GDP numbers this evening.
“US markets were weak despite strong results and guidance from Nvidia, as technology stocks resumed selling. Geopolitical tensions remain elevated even as US-Iran dialogue continued in Geneva. Asian markets are trading lower this morning following weakness in US markets,” he added.
In the broader market, most major NSE indices were under pressure. The Nifty 100 declined 0.4 per cent, the Nifty Midcap 100 fell 0.47 per cent, and the Nifty Smallcap 100 slipped 0.43 per cent.
Among sectoral indices, all except Nifty IT were trading in the red. Nifty IT gained 1.66 per cent, while Nifty Auto declined 0.65 per cent, Nifty FMCG fell 0.54 per cent, Nifty Media slipped 0.15 per cent, and Nifty Metal was down 0.66 per cent.
In commodities, gold prices were nearly flat at Rs 1,60,068 per 10 grams for 24 karat at the time of filing. Silver, however, surged to Rs 2,66,337 per kilogram.
Across Asia, most major markets were trading lower. Hong Kong’s Hang Seng declined 1.46 per cent to 26,382, while South Korea’s Kospi fell 0.87 per cent. Taiwan’s market was closed for a holiday. Japan’s Nikkei 225 gained 0.29 per cent, and Singapore’s Straits Times index rose 0.33 per cent.
In the US, the Dow Jones closed nearly flat at 49,499.20. The S&P 500 declined 0.54 per cent to close at 6,908, while the Nasdaq dropped over 1.2 per cent, or 279 points, to end at 22,872.35. (ANI)
