Indian equity markets opened on a weak note on Monday, with benchmark indices signaling a sharp decline from Friday’s close.
The GIFT Nifty, which serves as a bellwether for NSE performance, traded at 22,566 compared to Friday’s index close of 22,819.60, indicating a gap-down opening of over 250 points. The BSE Sensex meanwhile fell over 2,000 points in early trade, reflecting broader market weakness.
On the currency front, the Indian rupee opened stronger at 93.47 against the US dollar, providing some relief to importers and foreign currency earners amid volatile global conditions.
The market weakness comes amid global uncertainties and geopolitical tensions affecting investor sentiment across emerging markets. Traders are keenly watching derivative expiry and crude oil price movements, which have been influenced by international developments.
Analysts suggest investors remain cautious as markets digest multiple headwinds. The opening decline suggests profit-taking after recent gains, with participants likely to reassess positions ahead of key economic data and corporate earnings announcements.
Volatility is expected to remain elevated, and market participants should monitor global cues closely before making fresh investment decisions.
Source: Read original