Indian benchmark indices opened lower on Wednesday, tracking weak global cues, persistent foreign institutional investor (FII) outflows and mixed corporate earnings.
As of 9:30 AM, the Sensex was down 168 points, or 0.20 per cent, at 82,012, while the Nifty slipped 28 points, or 0.11 per cent, to trade at 25,204.
Broader markets moved largely in line with the benchmarks. The Nifty Midcap 100 declined 0.18 per cent, while the Nifty Smallcap 100 eased 0.11 per cent, reflecting cautious investor sentiment.
Sectorally, markets witnessed mixed trends. Nifty Metal and Nifty Pharma emerged as notable gainers, rising 0.83 per cent and 0.86 per cent, respectively.
In contrast, IT and chemical stocks remained under pressure, with the respective indices falling 0.81 per cent and 1.21 per cent.
Market participants indicated that immediate support for the Nifty lies in the 25,050–25,100 range, while resistance is seen around the 25,350–25,400 zone.
Analysts pointed out that global risk aversion intensified after US President Donald Trump threatened to impose 200 per cent tariffs on French wine and Champagne, raising fears of a wider trade conflict.
Reports from Greenland further fuelled concerns, as Prime Minister Jens-Frederik Nielsen urged preparedness amid unlikely but alarming geopolitical rhetoric.
Asian markets showed mixed cues, with gains in China offset by losses in Japan, Hong Kong and South Korea. US markets ended sharply lower in the previous session, led by a steep fall in the Nasdaq.
On January 20, FIIs sold equities worth ₹2,938 crore on a net basis, while domestic institutional investors provided support by purchasing shares worth ₹3,666 crore, offering some cushion to the market amid global volatility.
Also Read: Vehicles With Pending Toll Dues To Face Curbs On NOC & Fitness Certificates
To read more such news, download Bharat Express news apps
