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Sensex, Nifty Open Lower Amid Fading Fed Rate Cut Hopes

Indian stock markets opened lower on Friday amid negative global sentiment. The Sensex fell 292 points while Nifty dropped 85 points in early trading. Sectoral performance was mixed with IT and metals leading declines while media stocks gained. Market analysts expect the Bihar election impact to be temporary, with fundamentals driving medium-term trends.

Key Points: Sensex Nifty Fall on Global Cues as Bihar Results Counted

  • Sensex declined 292 points to 84,185 amid negative global cues
  • Nifty Midcap and Smallcap indices bucked trend with positive gains
  • FIIs sold Rs 384 crore in equities while DIIs bought Rs 3,092 crore
  • Analysts see Bihar election impact as temporary, fundamentals key for long term
2 min read

Sensex, Nifty open lower amid negative global cues

Indian markets open lower amid global selloff and FII selling. Sensex down 292 points, Nifty dips 85 points as election results dominate trading sentiment.

"The market's medium- to long-term trend will depend on fundamentals, especially earnings growth - Market Analysts"

Mumbai, Nov 14

The Indian benchmark indices opened in the red zone on Friday, amid negative global cues due to fading hopes of US Fed rate cut and persistent selling by foreign institutional investors (FIIs), as counting went underway for Bihar poll results.

As of 9.25 am, the Sensex declined 292 points, or 0.35 per cent to 84,185 and the Nifty dipped 85 points, or 0.33 per cent to 25,794.

The broadcap indices performed in contrast to the benchmarks, with the Nifty Midcap 100 up 0.27 per cent and the Nifty Smallcap 100 advanced 0.15 per cent.

Sectoral indices on NSE were trading mixed with FMCG (down 0.28 per cent), IT (down 0.94 per cent), Auto (down 0.35 per cent) and Metal (down 0.54 per cent) being the main laggards. Nifty Media was the standout gainer, up 0.72 per cent.

Analysts said that the reaction to Bihar election results will be only temporary, though it will dominate the market today. The market's medium- to long-term trend will depend on fundamentals, especially earnings growth. On this front there is room for optimism as indicated by prospects of robust GDP growth and improving earnings growth, they added.

Analysts placed immediate resistance for Nifty at 25,950, followed by 26,000, and support at 25,700 and 25,750 zones.

Asia-Pacific markets dropped in early trading sessions, tracking losses on Wall Street as technology stocks continued their decline and hopes of Fed rate cuts dwindled.

The US markets ended in the red zone overnight, as Nasdaq continued its decline, slipping 2.29 per cent, the S&P 500 dropped 1.66 per cent, and the Dow lost 1.65 per cent.

In Asian markets, China's Shanghai index dipped 1 per cent, and Shenzhen dipped 1.09 per cent, Japan's Nikkei dipped 1.65 per cent, while Hong Kong's Hang Seng Index declined 1 per cent. South Korea's Kospi dipped 2 per cent.

On Thursday, foreign institutional investors (FIIs) sold equities worth Rs 384 crore, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 3,092 crore.

- IANS

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Reader Comments

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Priya S
Good to see midcap and smallcap indices holding up despite benchmark weakness. Shows domestic investors are confident in India's growth story. Election results impact is temporary as analysts say - fundamentals matter more long term.
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Michael C
Working in IT sector, this dip in IT stocks worries me. Global tech slowdown affecting Indian IT companies too. Hope this is just a short-term correction and not a prolonged bear phase.
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Ananya R
Media stocks performing well is interesting! Maybe election coverage and festive season advertising boosting this sector. Good opportunity for sector rotation in my portfolio. 🎯
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Sarah B
Respectfully, I think media focuses too much on daily fluctuations. For long-term investors, these small dips don't matter much. India's GDP growth and corporate earnings are the real story. This noise will pass.
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Vikram M
FIIs selling ₹384 crore while DIIs bought ₹3092 crore shows domestic institutions have strong faith in Indian markets. We shouldn't worry too much about foreign money leaving when local investors are stepping up. 🇮🇳

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