Mumbai, November 13 (TNA) Indian equity markets opened on a weak note on Friday, with benchmark indices slipping after a cautious start. The Nifty 50 opened at 25,209.85, down from the previous close of 25,299.35, while the BSE Sensex opened at 81,833.78 against a previous close of 81,911.01.
The Nifty Bank index opened at 61,300.55, down from 61,518.50 in the previous session, reflecting early weakness in banking stocks. All three indices were trading in the red in early trade.
Early Market Movement
By 11:31 am IST, the Nifty 50 was trading at 25,165.30, down 134.05 points or 0.53 per cent from the previous close. The Sensex was at 81,633.30, down 277.71 points or 0.34 per cent. The Nifty Bank index was the biggest loser among the three, trading at 60,976.65, down 541.85 points or 0.88 per cent.
Intraday Range
The Nifty 50 hit an intraday low of 25,077.55 and a high of 25,246.35 in the early session. The Sensex touched a low of 81,300.46 and a high of 81,879.51. The Nifty Bank index moved between 60,862.20 and 61,300.55 during the morning trade.
What Drove the Weakness
The early weakness in the market was led by selling in banking and financial stocks, as reflected in the Nifty Bank index’s sharper decline compared to the broader indices. The market’s cautious opening came amid ongoing concerns over the Special Intensive Revision (SIR) of electoral rolls in Uttar Pradesh and its potential impact on investor sentiment.
Market Outlook
With the Nifty trading below the 25,250 level and the Sensex below 81,700, the market is likely to remain volatile in the near term. Traders will be watching global cues and domestic policy developments for direction. The banking sector’s underperformance could weigh on broader market sentiment if the weakness persists through the session.