1 hr ago
Indian Stocks Open Muted Amid Crude Prices, Global Weakness
Indian stock markets started Tuesday slightly lower.
The Sensex and Nifty both fell when trading began.
Investors were worried because oil prices were rising.
Higher oil prices can increase costs for many companies.
Stock markets in several other countries were also weak.
Auto, media, consumer goods and cement shares declined.
Pharmaceutical and healthcare companies performed better.
Foreign investors sold a large amount of Indian shares, while domestic investors bought shares to partly offset the selling.
The Sensex opened down 138.04 points, or 0.19 per cent, at 72,633.68.
The Nifty began 47.80 points lower, or 0.21 per cent, at 22,732.45.
Auto, media, FMCG and cement stocks declined, while pharmaceutical and healthcare shares gained nearly 1 per cent.
Brent crude rose above $106 a barrel, while the US 10-year bond yield stood at 5.23 per cent.
Foreign investors sold more than ₹5,353 crore of Indian equities, while domestic institutions bought ₹5,189 crore.
- Who
- Indian equity investors, foreign institutional investors and domestic institutional investors.
- What
- The Sensex and Nifty opened lower as investors reacted cautiously to rising crude prices and weak global markets.
- Where
- Indian stock exchanges, with the market opening reported from Mumbai.
- When
- Tuesday morning, following foreign investor selling on Monday.
- Why
- Rising crude oil prices, elevated US bond yields and weakness in overseas markets pressured investor sentiment.
Key facts
- Sensex opening
- 72,633.68, down 138.04 points or 0.19 per cent
- Nifty opening
- 22,732.45, down 47.80 points or 0.21 per cent
- Brent crude
- $106.87 per barrel, up more than 1 per cent
- West Texas Intermediate
- $93.99 per barrel, up more than 1 per cent
- US 10-year bond yield
- 5.23 per cent
- Foreign institutional flows
- Net sales exceeding ₹5,353 crore on Monday
- Domestic institutional flows
- Net purchases of ₹5,189 crore on Monday
- Nifty levels
- Support at 22,650–22,700; resistance at 22,950–23,000
Sources
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