Indian Stock Market Opens In Red, IT, Pharma, And PSU Bank Sectors Face Pressure

The Indian stock market opened on a negative note on Monday, with significant selling pressure observed in IT, PSU banks, and pharma sectors. By 9:51 am, the Sensex had slipped 333.13 points, or 0.43%, to 77,247.18, while the Nifty was down by 98.70 points, or 0.42%, to 23,434.00.

Broader Market Trends Reflect Caution

The overall sentiment on the National Stock Exchange (NSE) remained bearish, with 1,794 stocks trading in the red compared to 572 in the green. Among broader indices, the Nifty Midcap 100 dropped 212.65 points, or 0.39%, to 53,830.45, while the Nifty Small Cap 100 shed 183.85 points, or 1.04%, to reach 17,417.20.

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Interestingly, Nifty Bank showed resilience, gaining 21.25 points, or 0.04%, to trade at 50,200.80.

Gainers and Losers in Focus

In the Sensex pack, HDFC Bank, Bajaj Finance, Tata Steel, Asian Paints, L&T, Sun Pharma, Adani Ports, M&M, and JAW Steel emerged as the top gainers. On the flip side, IT heavyweights Infosys, HCL Tech, Tech Mahindra, and TCS led the losers, along with NTPC, Axis Bank, and Tata Motors.

Expert Opinions Urge Caution

Market experts expressed concerns over the lack of a sustained recovery in the markets. Factors such as foreign institutional investor (FII) outflows, earnings downgrades for FY25, and global uncertainties are weighing heavily on investor sentiment.

“Despite a 10.4% correction in Nifty from its peak, there are no visible signs of recovery. Relentless FII selling and the consequences of the Donald Trump trade have turned market sentiments negative,” analysts noted, advising investors to remain cautious and wait for a clearer market direction.

Mixed Global and Domestic Investment Trends

Foreign institutional investors (FIIs) sold equities worth ₹1,849 crore on November 14, adding to the downward pressure. However, domestic institutional investors (DIIs) offset some of the selling by purchasing equities worth ₹2,481 crore.

Asian Markets See Mixed Activity

In Asia, markets presented a mixed trend. While Jakarta and Tokyo were in the red, Seoul, Shanghai, Bangkok, and Hong Kong traded positively. On the other hand, U.S. stock markets ended their previous session in the red, adding to the cautious mood in global markets.

As uncertainties persist, all eyes remain on market movements in the coming sessions for potential recovery signals.