Indian benchmark indices opened in mild red zone on Friday, amid negative global cues and fading investor hopes of a US Fed rate cut in December.
As of 9.25 am, Sensex declined 80 points, or 0.09 per cent at 85,551 and Nifty dipped 15 points, or 0.05 per cent to 25,860.
The broadcap indices performed in line with the benchmarks, with the Nifty Midcap 100 down 0.30 per cent and the Nifty Smallcap 100 dipped 0.34 per cent.
TCS, Asian Paints and NTPC were among the major gainers in the Nifty Pack, while losers included Hindalco, Shriram Finance, Tata Steel and ICICI Bank.
All the sectoral indices on NSE were trading in red except Nifty Auto (up 0.30 per cent). Nifty Metal down 0.79 per cent was the biggest loser.
All of the major Asia-Pacific markets fell in early trading sessions after US AI and tech stocks shed value and investors lost hopes of a December rate cut by the Federal Reserve.
The volatility of the market has increased evident by Nasdaq, the barometer of AI trading, ending the day down 2.15 per cent, crashing 4.4 per cent from the intraday peak.
The US markets ended in the red zone overnight, as Nasdaq slipped 2.16 per cent, the S&P 500 dropped 1.56 per cent, and the Dow declined 0.84 per cent.
In Asian markets, China’s Shanghai index dipped 1.71 per cent, and Shenzhen dipped 2.52 per cent, Japan’s Nikkei dipped 2.31 per cent, while Hong Kong’s Hang Seng Index declined 2.17 per cent. South Korea’s Kospi dropped 3.94 per cent.
On Thursday, foreign institutional investors (FIIs) sold equities worth Rs 284 crore, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 824 crore.
(IANS)
