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Indian Markets Open Lower as Foreign Selling Continues
Indian stock markets started Thursday lower.
The Sensex and Nifty both fell at the opening.
Foreign investors have been selling Indian shares for five sessions in a row.
This selling made investors more cautious.
Auto and cement companies were among the weakest performers.
Technology and private-bank shares gained and helped limit the decline.
Domestic institutions bought shares worth ₹11,271 crore on Wednesday.
Analysts said markets could improve if the Nifty rises above resistance, but selling could continue if it falls below support.
Sensex opened 287.39 points lower at 72,192.89, while Nifty fell 76.75 points to 22,543.70.
Auto, cement, realty, media and healthcare stocks led sectoral declines, falling by up to 2.76%.
Nifty IT gained more than 1%, and Nifty Private Bank rose 0.60%, providing some support.
Foreign institutional investors sold more than ₹10,148 crore on Wednesday, their fifth consecutive selling session.
Analysts described the near-term outlook as sideways to bearish, with Nifty support at 22,500–22,550 and resistance at 22,800–22,900.
- Who
- Indian equity benchmarks, foreign institutional investors, domestic institutional investors and market analysts.
- What
- The Sensex and Nifty opened lower as continued foreign selling pressured the market, while IT and private-bank shares gained.
- Where
- Indian stock markets, Mumbai.
- When
- Thursday, October 1; the cited institutional trading data is from Wednesday and September.
- Why
- Persistent foreign fund outflows and rising US bond yields weighed on sentiment; crude oil prices were also identified as a key market factor.
Potential Market Support
Downside Risks
Near-term outlook
Potential Market Support
A sustained move above the Nifty resistance zone of 22,800–22,900 could improve investor confidence; gains in IT and private-bank shares also provided support.
Downside Risks
Continued FII selling, rising US bond yields and a break below Nifty support at 22,500–22,550 could prolong pressure on large-cap equities.
Crude oil trigger
Potential Market Support
A decline in Brent crude below $98 a barrel could provide relief to Indian equities.
Downside Risks
Brent crude remains a key market trigger that investors will monitor alongside fund flows and bond yields.
Key facts
- Sensex opening
- 72,192.89, down 287.39 points or 0.39%
- Nifty opening
- 22,543.70, down 76.75 points or 0.34%
- Foreign institutional selling
- More than ₹10,148 crore on Wednesday, the fifth consecutive selling session
- Domestic institutional buying
- ₹11,271 crore on Wednesday
- September FII flows
- ₹45,536 crore sold through exchanges and ₹9,676 crore invested through the primary market
- Nifty support
- 22,500–22,550
- Nifty resistance
- 22,800–22,900
Sources
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