Indian stock markets opened on a weak note on Wednesday, where the BSE Sensex fell over 100 points in early trade, while the Nifty50 slipped below the 25,700 level. Signals from GIFT Nifty had already suggested a muted start for the domestic markets.
Global markets provided limited support, with Asian stocks trading mixed to weak. This, along with continued selling by foreign institutional investors (FIIs), kept pressure on Indian equities. However, buying by domestic institutional investors (DIIs) helped prevent a sharper decline.
Among key stocks, Infosys traded lower as investors remained cautious ahead of its quarterly results. Shares of HDFC AMC and Groww were also among the early losers due to stock-specific concerns.
On the positive side, ICICI Lombard gained in early trade, supported by buying interest after recent business updates. Waaree Renewable also saw some buying interest, bucking the broader weak trend.
Market analysts said the Nifty is facing resistance at higher levels and may remain volatile in the short term. They advised investors to stay cautious and focus on stock-specific opportunities rather than broad market buying.
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