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Sensex, Nifty Open Lower Amid Global Cues, Profit Booking

Indian benchmark indices opened lower on Thursday due to profit booking, rising geopolitical tensions, and weak sentiment from Asian markets. Key sectoral indices like Nifty Metal led the losses, trading down over 1%, while most other sectors were also in the red. Despite the short-term softness, analysts note the broader positional trend remains bullish, supported by chart patterns. The market movement follows mixed global cues, with Wall Street losses and varied performance across major Asian indices.

Key Points: Sensex, Nifty Open Lower on Global Weakness, Geopolitics

  • Sensex slips 108 points
  • Nifty metal index down 1.27%
  • FIIs net sellers, DIIs net buyers
  • Broader positional trend remains bullish
  • Asia-Pacific markets trade mixed
2 min read

Sensex, Nifty open lower over weak global cues

Indian stock markets open lower tracking weak Asian cues and geopolitical tensions. Check key support levels and FII/DII activity.

"Immediate support lies at 26,000-26,050 zone, and resistance placed at 26,250-26,300 zone - market watchers"

Mumbai, Jan 8

The Indian benchmark indices posted mild losses on Thursday amid profit booking, rising geopolitical tensions and muted sentiment from the Asian markets.

As of 9.23 am, Sensex slipped 108 points, or 0.13 per cent to 84,852 and Nifty eased 46 points, or 0.18 per cent to 26,094.

Main broad-cap indices performed almost in line with benchmark indices, with the Nifty Midcap 100 down 0.32 per cent, while the Nifty Smallcap 100 lost 0.14 per cent.

Bharat Electronics and SBI Life Insurance were among the major gainers in the Nifty pack. Except Nifty realty and consumer durables, all sectoral indices were trading in red. Nifty metal led the losses, slipping 1.27 per cent.

Immediate support lies at 26,000-26,050 zone, and resistance placed at 26,250-26,300 zone, market watchers said.

Despite the short-term softness, the broader positional trend remains bullish, supported by a pattern of higher tops and higher bottoms on the daily charts, analysts said.

Asia-Pacific markets traded mixed in morning session tracking Wall Street losses amid comments from US President Donald Trump fuelling geopolitical tensions.

In Asian markets, China's Shanghai index added 0.09 per cent, and Shenzhen lost 0.2 per cent, Japan's Nikkei declined 0.96 per cent, while Hong Kong's Hang Seng Index dipped 1.26 per cent. South Korea's Kospi advanced 0.64 per cent.

The US markets were mostly in the red zone overnight even as Nasdaq added 0.16 per cent. The S&P 500 dipped 0.34 per cent, and the Dow moved down 0.94 per cent.

ADP's December employment data showed 41,000 jobs added, slightly missing expectations. Economists had expected private-sector employment to increase by 47,000 jobs, compared with the 32,000-job loss originally reported for the previous month.

On January 5, foreign institutional investors (FIIs) sold net equities worth Rs 1,528 crore, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 2,889 crore.

- IANS

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Reader Comments

S
Sarah B
The FII selling is a bit concerning, but heartening to see DIIs stepping in with strong buying. Shows domestic confidence is high. Hope the support at 26,000 holds.
A
Aditya G
Global tensions are always a spoilsport for our markets. Wish our indices could decouple more often. But 0.1-0.2% fall is nothing to worry about. Chill, everyone!
P
Priyanka N
The metal index down over 1% is painful for my portfolio today. But analysts are right, the positional trend is up. Will use this dip to average my SIPs. Long term India story is intact.
M
Michael C
Respectfully, I feel the media focuses too much on daily movements. For retail investors like me, this daily noise is irrelevant. We should focus on fundamentals and hold for years, not days.
K
Kavya N
Good to see BEL among the gainers! A solid PSU. Markets will bounce back. Budget is coming soon, that will be the next big trigger. 🚀

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