Indian equities opened on a subdued note on Friday, tracking mixed global cues and weakness in GIFT Nifty, which signaled a cautious start for domestic benchmarks. Investors remained on the sidelines amid concerns over rising crude oil prices and uneven global risk sentiment.
The Sensex slipped over 100 points in opening trade to hover around the 78,400 mark, while the Nifty 50 traded below the crucial 23,700 level during early deals, reflecting subdued investor sentiment.
Among early gainers, select banking stocks provided support, with private lenders leading mild upside traction. Financials remained relatively resilient, helped by steady credit outlook and selective buying at lower levels. Defence-linked and capital goods names also showed early strength on stock-specific momentum.
On the losers’ side, IT stocks came under early pressure, extending weakness seen in previous sessions due to concerns over global tech demand and cautious client spending. Oil-sensitive and energy-linked stocks also slipped, tracking higher crude prices, which raised fears of margin pressure and inflationary impact.
Stock-specific activity remained active. Adani Enterprises was among the most tracked counters in early trade, moving on sectoral cues and broader market sentiment. Meanwhile, Tata Motors, particularly its passenger vehicle (PV) segment, saw movement as investors reacted to demand outlook and input cost trends in the auto space.
Broader market sentiment stayed cautious, with traders preferring selective positioning over aggressive bets. While buying interest in financials provided some cushion, weakness in IT and energy-linked stocks limited upside momentum.
Also Read: LinkedIn to cut 5% of workforce in latest restructuring