Nifty, Sensex open flat amid decline in global indices
Indian stock markets opened with mixed signals on Thursday, reflecting the broader decline in global indices. The benchmark Nifty 50 index began trading down 17 points, or 0.07%, at 25,035.30, while the Sensex showed a marginal increase of 35 points, or 0.05%, opening at 81,822.56.
The flat opening comes in the wake of pressure on global markets following Nvidia’s quarterly results announcement. Despite strong financial performance, the tech giant’s management guidance disappointed some investors, leading to a ripple effect across international markets.
“AI and semiconductor stocks are falling, and MSCI Asia is down 0.5%, while Nvidia itself is down 8% in U.S. after-market trading,” said Ajay Bagga, a Banking and Market Expert. He added that foreign institutional investors (FIIs) recorded a net outflow in the Indian cash segment on Wednesday.
Sectoral indices on the National Stock Exchange showed a mixed trend. Nifty Bank, Auto, IT, and FMCG opened in the red, while Financial Services, Pharma, and Media sectors saw gains. The broader market indices, including Nifty Next 50 and Nifty Small Cap 100, opened slightly higher.
Among individual stocks, pharmaceutical companies Cipla, Apollo Hospital, and Sun Pharma emerged as top gainers in the Nifty 50 at market open.
The cautious sentiment in Indian markets mirrored the trend across Asia. Japan’s Nikkei index fell by 0.45%, Hong Kong’s Hang Seng declined by 0.55%, and Taiwan’s Weighted Index dropped by 1.32%, marking it as the largest loser among major Asian markets.
The downturn in Asian markets followed Wednesday’s decline in U.S. stock markets, where both the S&P 500 and Nasdaq indices faced losses due to investor profit-taking and reaction to Nvidia’s results.
