FII selling pressures Indian equities
Indian benchmark indices opened lower again on Friday as crude oil prices surged past the $100 mark, putting pressure on equities and the rupee.
At the opening bell, the Nifty 50 fell 178 points to 23,462, while the BSE Sensex dropped around 500 points to 75,488. The weakness comes amid rising energy prices and a fresh decline in the rupee against the US dollar.
GIFT Nifty signals weak start
Earlier, the GIFT Nifty on NSE International Exchange indicated a negative start for domestic markets. It traded 154 points or 0.65% lower at 23,557.50, signalling cautious sentiment among investors ahead of the opening.
Oil prices and FII selling pressure markets
Apart from rising crude prices, markets are also facing pressure due to continued selling by foreign investors. Foreign Institutional Investors (FIIs) have been aggressively offloading equities in recent sessions.
However, Domestic Institutional Investors (DIIs) have continued to provide some support to the market, limiting deeper losses.
The surge in global crude prices has heightened concerns about inflation and India’s import bill, adding to investor caution.
Markets closed sharply lower on Thursday
In the previous trading session on Thursday, benchmark indices ended sharply lower.
Selling pressure was led by auto, consumer and financial stocks, while some buying interest was seen in select commodity counters.
The volatility in global markets, driven largely by geopolitical tensions and rising oil prices, continues to influence investor sentiment.
For all the latest updates, download PGurus App.
