The Indian equity markets opened lower on Friday, with benchmark indices Sensex and Nifty slipping in early trade amid weak global cues and rising crude oil prices linked to tensions in the Middle East.
At around 9:28 AM, the Sensex fell 365 points, or 0.46 per cent, to trade at 79,650, while the Nifty declined 103 points, or 0.42 per cent, to 24,662.
The fall reflected cautious investor sentiment as global developments and geopolitical uncertainties weighed on market confidence.
Despite losses in the benchmark indices, broader markets displayed relative strength. The Nifty Midcap 100 rose by 0.30 per cent, while the Nifty Smallcap 100 gained 0.45 per cent.
Selective buying in midcap and smallcap stocks supported the broader market despite selling in large-cap shares, reflecting investor confidence in growth sectors.
Most sectoral indices traded lower, though IT, pharma and oil and gas posted modest gains, while private bank and auto stocks led losses.
Rising Middle East tensions and crude oil crossing $80 per barrel weighed on sentiment.
Technically, Nifty faces resistance near 24,850 and support at 24,550–24,500, while Bank Nifty support lies at 58,700–58,800.
Asian markets were mixed, and US markets ended lower overnight. FIIs sold equities worth ₹3,752 crore, while DIIs bought ₹5,153 crore, helping limit deeper losses.
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