The markets opened on a weak note on Monday where Sensex declined by over 100 points in early trade, while the Nifty 50 slipped below the 26,050 level, as selling pressure in select heavyweight stocks weighed on the benchmarks.
On the downside, Adani Ports and Power Grid emerged as the top losers at the opening bell, dragging the indices lower. Weakness was also seen in some infrastructure and utility stocks, reflecting subdued risk appetite among investors. Analysts attributed the early decline to the absence of strong domestic cues and continued concerns over foreign institutional investor outflows.
However, losses were partly capped by gains in metal stocks. Tata Steel and Hindalco traded higher in early deals, supported by buying interest amid firm global commodity prices. Select FMCG and auto stocks also showed mild strength, indicating selective accumulation at lower levels.
Broader markets opened mixed, highlighting cautious participation ahead of the year-end. Market participants said activity is likely to remain muted through the session, with indices expected to trade in a narrow range unless fresh global or domestic triggers emerge.
As such, the market tone remained cautious as investors focused on portfolio adjustments and awaited clearer signals in the final trading days of the year.
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