Sensex And Nifty Open Lower On Weak Global Cues And Profit Booking

Indian benchmark indices opened lower on Thursday, weighed down by profit booking, rising geopolitical tensions, and subdued sentiment from global markets.

As of 9:23 AM, the Sensex fell 108 points, or 0.13 per cent, to 84,852, while the Nifty declined 46 points, or 0.18 per cent, to 26,094.

Broad-market indices tracked the benchmarks, with the Nifty Midcap 100 down 0.32 per cent and the Nifty Smallcap 100 slipping 0.14 per cent.

Among Nifty constituents, Bharat Electronics and SBI Life Insurance gained, while sectoral indices mostly traded in the red, except for realty and consumer durables.

The Nifty Metal index led the losses, dropping 1.27 per cent.

Analysts identified immediate support for Nifty at 26,000–26,050 and resistance at 26,250–26,300.

Despite the short-term softness, the broader trend remains bullish, supported by patterns of higher tops and higher bottoms on daily charts.

Asian markets were mixed during the morning session.

China’s Shanghai index rose 0.09 per cent, Shenzhen fell 0.2 per cent, Japan’s Nikkei dropped 0.96 per cent, and Hong Kong’s Hang Seng slid 1.26 per cent. South Korea’s Kospi advanced 0.64 per cent.

US markets closed mostly lower overnight, with the S&P 500 down 0.34 per cent and the Dow declining 0.94 per cent, while the Nasdaq gained 0.16 per cent. Investors reacted to geopolitical concerns and US economic data, with ADP reporting a modest addition of 41,000 private-sector jobs in December, below the expected 47,000.

On January 5, foreign institutional investors (FIIs) were net sellers of equities worth Rs 1,528 crore, while domestic institutional investors (DIIs) were net buyers of Rs 2,889 crore, reflecting a cautious market stance.

Also Read: Adani Enterprises’ Rs 1,000 Crore NCD Issue Fully Subscribed In 45 Minutes