The Indian benchmark indices opened lower on Friday at 9:15 AM as the Sensex fell over 480 points to start trading at 82,825.17, while the Nifty declined more than 130 points to ring the opening bell at 25,378.70.
In the pre-open session, at around 9:03 AM, the Sensex tested 83,100, falling more than 227 points and the Nifty traded over 25,400 declining nearly 100 points.
The Gift Nifty was trading at 25,492, down by more than 47 points at 8:53 AM.
Volatility Grips Indian Markets Amid Broad-Based Profit-Booking
Domestic equities witnessed heightened volatility on Thursday as widespread profit-booking continued, even as most Asian markets traded on a positive note. Persistent foreign institutional investor (FII) outflows weighed on investor sentiment, erasing early gains driven by strong US macroeconomic data and the inclusion of four Indian companies in the MSCI Global Standard Index.
Additionally, this session also marks the third consecutive session of losses for the Indian markets and the decline is backed by weak global cues.
Early Gains Fade Amid Weak Domestic Data
“Early optimism from the inclusion of four Indian companies in the MSCI Global Standard Index and strong US macro data was offset by weak domestic PMI readings, indicating softening sentiment,” said Vinod Nair, Head of Research at Geojit Financial Services.
The combination of global support and domestic headwinds left the markets oscillating through the session, reflecting a cautious undertone among investors.
