Equities open lower amid Mideast tensions, Fed caution, sectoral weakness
CHENNAI: The Indian equity markets have started on a cautiously negative note on Thursday. While the broad indices are under pressure, fundamentals are holding up in select sectors as volatility remains high, but opportunity lies in discerning sector leadership.
GIFT Nifty, a key pre-market indicator, was trading about 70 points lower, hinting at a soft start—with global cues seen as pivotal for today's direction.
In the early session, Nifty50 opened slightly below 24,800, roughly at 24,803, down ~9 points (–0.04%), and Sensex began the session around 81,410, off nearly 34–100 points (–0.04% to –0.12%).
Key Drivers Behind the Opening Dip
1. Global Turbulence
Geopolitical tension in the Middle East—specifically Israel–Iran developments—fueling risk aversion.
US Federal Reserve's hawkish tone: Despite holding rates steady, it signaled fewer cuts later this year, maintaining tightening pressure.
2. Sector-wise weakness
Broader Asian markets plunged, with MSCI Asia ex‑Japan off about 1.1%, and in India, IT, banking, and financials were major laggards in early trading.
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