Indian Markets Hit by Selling Pressure Amid Foreign Investor Outflows
Indian markets faced renewed selling pressure due to foreign investor outflows. The Nifty 50 and BSE Sensex opened lower, with mixed trends across sectors. Metal and PSU banks were top gainers. Gold continued its rally amid U.S. interest rate cut expectations, while silver saw profit booking.
- Country:
- India
On Thursday, Indian markets were again under selling pressure after a short-lived recovery in the previous session. Persistent outflows from foreign investors have compounded market worries, causing both the Nifty 50 and BSE Sensex to open lower. However, certain sectors, particularly metals and PSU banks, emerged as bright spots amid the downturn.
The Nifty 50 began at 24,759.55, a decrease of 76.75 points or 0.31%, while the BSE Sensex dropped by 299.17 points or 0.37% to start at 80,684.14. Market performance varied, with the Nifty 100 down 0.20%, Nifty Midcap 100 ticking upwards at 0.14%, and Nifty Small Cap 100 trading slightly in the green with a modest increase of 0.02%.
Sector-wise, indices on the NSE showed that FMCG, IT, media, and realty sectors were under early pressure, with auto stocks remaining stable. Meanwhile, metal and PSU bank shares recorded gains, supporting the indices. Concurrently, gold continued its seventh consecutive weekly gain amidst expectations of further U.S. interest rate cuts and concerns over the ongoing U.S. government shutdown. Silver saw some profit-taking after significant highs.
(With inputs from agencies.)
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