Stock markets opened lower on Friday, November 13, as rising crude oil prices, higher inflation and weak global cues weighed on investor sentiment. The BSE Sensex and NSE Nifty extended their losses in early trade, with selling pressure across banking, financial and automobile stocks.
The 30-share Sensex opened at 81,833.78, declining 77.23 points, or 0.09%, against its previous close of 81,911.01. However, selling intensified after the opening bell, dragging the benchmark down by more than 600 points to an early low of 81,300.46.
The NSE Nifty 50 opened at 25,209.85, down 89.50 points, or 0.35%, from its previous close of 25,299.35. The index subsequently slipped to an early low of 25,077.55, falling around 222 points from its previous close.
The benchmarks recovered some of their initial losses as the morning session progressed. At around 9:53 am, the Sensex was trading at 81,739.38, down approximately 172 points, while the Nifty stood at 25,208.35, lower by around 91 points.
Selling pressure was visible across several heavyweight stocks on the Nifty 50, although a handful of pharmaceutical and other stocks managed to remain in positive territory.
Shriram Finance, HDFC Bank, Hindalco Industries, Mahindra & Mahindra (M&M), InterGlobe Aviation (IndiGo), Bajaj Finserv and Jio Financial Services were among the notable losers in morning trade.
Shriram Finance declined around 2.4%, emerging as one of the biggest laggards. HDFC Bank fell 1.4%, while Hindalco Industries shed 1.3%. IndiGo shares lost around 1.2%, while M&M, Bajaj Finserv and Jio Financial Services declined approximately 1.1% each.
On the other hand, Apollo Hospitals, Dr Reddy’s Laboratories, Sun Pharmaceutical Industries, BSE and Oil and Natural Gas Corporation (ONGC) featured among the early gainers.
Apollo Hospitals advanced around 1.2%, while Dr Reddy’s Laboratories gained 0.9%. Sun Pharma shares rose 0.7%, with BSE and ONGC adding around 0.6% each.
The broader market also reflected the cautious mood. Of the 50 stocks forming the Nifty 50 index, only 12 were trading in positive territory, while 38 were in the red around 9:44 am.
Several domestic and international developments contributed to Friday’s weak opening, with rising crude prices and inflation concerns emerging as key factors.
One of the biggest concerns for investors was the movement in international crude oil prices. Brent crude traded around $95.60 per barrel in morning trade, after touching levels above $96 earlier in the session. This compared with its previous market close of around $95.82.
The increase in oil prices has raised concerns about India’s import expenditure, inflation and the country’s current account position. As one of the world’s largest crude oil importers, India remains particularly vulnerable to prolonged increases in international energy prices.
Geopolitical developments also added to market uncertainty. Attacks on Saudi energy infrastructure and disruptions to shipping through the Strait of Hormuz have heightened concerns about global oil supplies. US President Donald Trump’s latest comments ruling out the possibility of an agreement with Iran further contributed to investor caution.
Another important factor was India’s latest retail inflation reading. Consumer price index-based inflation accelerated to 6.09% in October, crossing the Reserve Bank of India’s upper tolerance limit of 6% for the first time in two years.
Higher food prices contributed to the increase, raising concerns about household spending and the possibility of monetary policy tightening. Investors are likely to monitor upcoming inflation readings and RBI commentary for indications of the interest rate outlook.
Despite the weak opening, foreign institutional investors continued to provide support to Indian equities through sustained purchases.
Foreign institutional investors bought equities worth approximately ₹7,830.60 crore on Thursday, extending their net buying streak to nine consecutive sessions. Their cumulative investments in Indian equities during the first 12 days of November reached approximately ₹75,392 crore.
November inflows have already crossed $8 billion, marking the strongest monthly inflow since December 2020.
However, domestic institutional investors continued their profit-booking activity, limiting the positive impact of foreign fund purchases.
Elevated US Treasury yields also remained a concern, as investors reassessed their exposure to riskier assets amid geopolitical uncertainty.
Market participants will closely monitor crude oil movements, global bond yields, foreign institutional investor activity and further developments in West Asia for direction.
The recovery from the day’s early lows suggests that buying interest remains present at lower levels. However, the broader market continues to face pressure from inflationary concerns and uncertainty surrounding global energy supplies.
With a majority of Nifty 50 constituents trading lower in early trade, investors are likely to remain cautious while assessing the sustainability of the recent market rally.