In a challenging week for the Indian equity markets, benchmark indices opened lower on Friday, extending their downturn as foreign fund outflows and mounting tensions in the Middle East weighed on investor sentiment. The BSE Sensex fell by 354.67 points to 82,142.43, while the NSE Nifty declined by 114.1 points, landing at 25,136 in early trade.
Key companies such as Bajaj Finance, Asian Paints, NTPC, UltraTech Cement, State Bank of India, and Bajaj Finserv reported losses, while HCL Technologies, IndusInd Bank, and Tata Consultancy Services emerged as gainers.
Foreign Institutional Investors (FIIs) pulled out a significant Rs 15,243.27 crore on Thursday. Commenting on the shift, V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services while talking with the indian express, noted, “FIIs are reallocating from the high-cost Indian market to Hong Kong, anticipating growth due to China’s recent monetary and fiscal stimulus.”
The decline continued despite positive trades in Asian markets, including Seoul, Tokyo, and Hong Kong, while mainland China remained closed for a holiday. Brent crude prices dropped slightly to USD 77.57 a barrel, reflecting the ongoing volatility in global markets.
Thursday’s trading session saw the Sensex drop 1,769.19 points, closing at 82,497.10, while the Nifty fell 546.8 points, settling at 25,250.10.
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