Stock Market Today: Sensex, Nifty Open Lower As Strong Dollar Hits Sentiment

The Indian equity markets opened lower on Thursday as rising global bond yields and a stronger dollar weighed on investor sentiment, offsetting support from softer crude oil prices.

At 9:23 AM, the Sensex fell 564 points, or 0.75 per cent, to 74,263, while the Nifty declined 205 points, or 0.88 per cent, to 23,240.

Broader markets weakened, with the Nifty Midcap 100 falling 0.95 per cent and the Nifty Smallcap 100 declining 0.66 per cent.

Most NSE sectoral indices traded in the red, while IT and pharma posted marginal gains. Nifty Financial Services 25/50 led the losses, falling 1.73 per cent, followed by private banks, which declined 1.67 per cent.

The US 10-year Treasury yield moved above 5 per cent, increasing pressure on technology stocks and reducing global risk appetite.

A stronger Dollar Index added to concerns over emerging-market assets.

Crude prices provided some relief, with Brent crude falling to around $97 a barrel.

The decline, however, followed US Energy Information Administration data showing a 2.97-million-barrel rise in crude inventories, against expectations of a 0.6-million-barrel decline.

Markets faced renewed uncertainty over the US-Iran conflict.

Investors are expected to track the meeting between US President Donald Trump and Chinese President Xi Jinping for developments on trade and technology.

The Nifty closed at 23,446, up 0.50 per cent, while Bank Nifty gained 0.60 per cent to 56,548. Their key support levels were 23,000–23,150 and 56,000–56,200, respectively.

Asian markets were mixed, while Wall Street closed lower on rate-hike concerns. The Nasdaq fell 1.13 per cent, the S&P 500 0.75 per cent, and the Dow Jones 0.68 per cent.

On September 23, FIIs bought ₹1,617 crore and DIIs ₹2,341 crore.

Also Read: Stock Market Today: Sensex Ends At 74,828, Nifty Settles At 23,447