Indian equity benchmarks opened lower on Thursday, tracking weak global cues and cautious investor sentiment ahead of key earnings announcements. The BSE Sensex declined 312 points in early trade to open near 80,210, while the NSE Nifty slipped below the 24,300 mark, indicating a weak start for domestic markets.
Selling pressure was visible across major sectors, with information technology stocks leading the decline. Infosys, Tata Consultancy Services, HCL Tech and Wipro were among the top losers in early trade as concerns over soft global demand and muted earnings outlook continued to weigh on the sector. Retail major Trent also traded lower amid profit booking.
Banking and financial shares opened mixed. Select private lenders showed resilience, but broader weakness in frontline counters kept benchmark indices under pressure. Reliance Industries traded range-bound in the opening minutes.
Among early gainers, defensive names such as ITC and Hindustan Unilever attracted buying interest. Some pharmaceutical stocks also edged higher as investors preferred relatively safer sectors amid global uncertainty.
Global sentiment remained cautious after a rise in crude oil prices and renewed geopolitical tensions in West Asia. Higher oil prices are seen as a concern for inflation and India’s trade balance, prompting a risk-off mood among investors.
Market participants will closely watch intraday movement in global markets, foreign fund activity and upcoming quarterly earnings for further direction. Analysts said Nifty may find immediate support near 24,200, while resistance is placed around 24,450 in the short term.
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