7 hrs ago
Sensex, Nifty Open Lower as Oil and RBI Policy Loom
India’s two main stock market indexes started the day lower.
The Nifty and Sensex both lost points at the opening.
Shares in every sector were down early on.
A measure of expected market ups and downs rose sharply.
The rupee began the day slightly weaker against the dollar than it had closed on Tuesday.
Oil prices rose, with Brent crude at $101 per barrel when the report was filed.
Concerns about Houthi attacks on Saudi Arabia were linked to the oil-market focus.
Investors were also watching the Reserve Bank of India’s policy.
The Nifty opened 163.95 points lower at 22,690.45.
The Sensex opened 451.22 points lower at 72,965.38.
All sectoral indices fell in early trade, while the Volatility Index spiked sharply.
The rupee opened at 96.45 per dollar, compared with Tuesday’s close of 96.42.
Brent crude was at $101 per barrel amid concerns over Houthi attacks on Saudi Arabia; oil prices and RBI policy were in focus.
- Who
- India’s stock markets, including the Nifty and Sensex, and the Indian rupee.
- What
- The Nifty and Sensex opened lower, sectoral indices declined, and the Volatility Index rose sharply.
- Where
- India’s financial markets.
- When
- October 7; the year is not stated.
- Why
- Oil prices and RBI policy were in focus; crude oil concerns included Houthi attacks on Saudi Arabia.
Market pressures
Areas of focus
Opening market performance
Market pressures
The Nifty and Sensex opened lower, all sectoral indices declined, and the Volatility Index spiked.
Areas of focus
The report identifies oil prices and RBI policy as key issues in focus, but gives no explicit opposing market forecast.
Oil-market concerns
Market pressures
Concerns over Houthi attacks on Saudi Arabia remained as Brent crude reached $101 per barrel.
Areas of focus
The report does not provide a countervailing view on oil prices or the security concerns.
Key facts
- Nifty opening
- 22,690.45, down 163.95 points
- Sensex opening
- 72,965.38, down 451.22 points
- Sectoral indices
- All declined in early trade
- Volatility Index
- Rose sharply
- Rupee opening
- 96.45 per dollar, versus Tuesday’s close of 96.42
- Brent crude
- $101 per barrel at the time of filing
- Market focus
- Oil prices and RBI policy
Sources
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