Mumbai, November 6 (TNA) Indian equity markets opened lower on Friday after a six-session rally, as a sell-off in US and Asian markets weakened investor sentiment. The BSE Sensex opened around 1,000 points lower at approximately 78,300, while the NSE Nifty50 began trading near 24,400.
The decline followed a sharp rally in the previous session, when the Sensex had gained more than 2,000 points, and the Nifty crossed the 24,500 level.
Global Selling Pressure
The weak opening was signalled by GIFT Nifty futures, which were trading between 170 and 185 points below the previous Nifty close in early deals. The indication came amid losses across Asian markets and overnight weakness in Wall Street technology stocks.
Investors were also tracking renewed concerns around high valuations in artificial-intelligence and technology companies. Selling in semiconductor stocks added to pressure on global equities.
Crude Oil, Foreign Flows in Focus
Crude oil prices rebounded towards the US$100-per-barrel level, raising concerns about inflation and the impact of higher input costs on the Indian economy. The rise in oil prices added to the cautious mood at the opening bell.
Market participants were also monitoring foreign institutional activity after strong buying supported the previous session’s rally. Profit-booking could remain visible in sectors and stocks that had risen sharply during the six-day advance.
Stocks to Watch
Bharti Airtel, ONGC, Titan Company, Hindalco and Britannia were among the stocks in focus at the start of trade. Investors were expected to track earnings announcements, sector-specific developments and further global market cues during the session.
Analysts said the market could remain volatile after the recent sharp gains, with support levels and movements in crude oil, Asian equities and US technology stocks likely to influence trading through the day.