Markets open lower amid weak global cues, risk-off sentiment

Domestic equity markets opened on a weak note on Wednesday, extending their downward trend amid subdued global cues and rising risk aversion.

The Nifty 50 opened at 25,141, down 91.50 points or 0.36 per cent, while the BSE Sensex slipped 385.82 points or 0.47 per cent to open at 81,794.65.

Market sentiment remained cautious as global equities continued to face pressure from geopolitical concerns, rising bond yields, and uncertainty over US trade policies.

Banking and market expert Ajay Bagga said Indian equities are likely to move in tandem with global markets in the absence of strong domestic triggers. Speaking to ANI, he noted that volatility has risen as investors factor in a risk-off scenario, while recent declines in US markets and softer Asian cues are weighing on sentiment.

Developments in the global bond market also added to investor caution. Stress was evident in the Japanese government bond market, with long-term bond yields rising sharply. The Japanese Government Bond Liquidity Index touched a record high, reflecting heightened market pressure.

The broader market also traded lower, with the Nifty 100 down 0.36 per cent, the Nifty Midcap 100 slipping 0.32 per cent, and the Nifty Smallcap 100 declining 0.31 per cent.

On the sectoral front, most NSE indices were in the red. Nifty Auto fell 0.63 per cent, Nifty FMCG declined 0.29 per cent, Nifty IT was down 0.26 per cent, and Nifty PSU Bank slipped 0.37 per cent. Nifty Pharma and Nifty Media bucked the trend, gaining 0.14 per cent each.

Several companies are scheduled to announce their third-quarter results later in the day, including Dr Reddy’s Laboratories, Hindustan Petroleum Corporation, Bank of India, Waaree Energies, Oracle Financial Services Software, Jindal Stainless, Tata Communications, Supreme Industries, Dalmia Bharat, KEI Industries, and PNB Housing Finance.

In other Asian markets, Japan’s Nikkei 225 was down 0.44 per cent, Singapore’s Straits Times declined 0.32 per cent, and Hong Kong’s Hang Seng slipped 0.08 per cent, adding to the cautious mood in domestic equities.

-ANI