Sensex Falls 450 Points; Nifty Slips Below 25,150 In Early Trade On Weak Global Cues

Domestic equity benchmarks opened lower on Friday and extended their losses in early trade as weak global cues and profit-booking weighed on investor sentiment following a sharp November rally.

The BSE Sensex declined around 450 points, or 0.55 per cent, to 81,457.74. The NSE Nifty 50 dropped 182 points, or 0.71 per cent, to 25,117.

Earlier, the Sensex opened at 81,833.78, down 77.23 points or 0.09 per cent. The Nifty started the session at 25,209.85, declining 89.50 points or 0.35 per cent.

Most sectoral indices traded in the red, with Nifty Realty leading the losses by falling over 1 per cent. Nifty Chemicals, Auto and Cement declined by up to 1 per cent. Oil and Gas, Private Bank, Consumer Durables and PSU Bank stocks also traded lower.

However, healthcare and pharmaceutical stocks bucked the trend. Nifty Pharma, Nifty Healthcare and Nifty 500 Healthcare gained up to 0.39 per cent.

The selling pressure followed Nifty’s strong 9.7 per cent rally in November. Market experts attributed the recent gains to aggressive buying by foreign institutional investors (FIIs), improving corporate earnings and weakening interest in AI-related trades.

However, experts warned that rising inflation in India and the US could push interest rates higher and weigh on equities. They also flagged domestic institutional investors’ profit-booking as a potential headwind.

Meanwhile, Brent crude prices climbed to $95 per barrel amid fresh geopolitical concerns involving Saudi energy infrastructure and disruptions around the Strait of Hormuz.

Japan’s Nikkei gained 1 per cent, while the Hang Seng and KOSPI fell. Wall Street also closed lower on Thursday.

Also Read: Stock Market Closing Bell: Sensex, Nifty End Higher As Realty Stocks Rally 4%