Indian markets opened marginally lower on Friday, tracking weakness in global equities. At 9:20 am, the Sensex fell 0.12 percent to 83,338 points, while the Nifty eased 0.1 percent to 25,550 points.
Among sectoral indices, Nifty IT and Media led the losses, declining 1 percent each, followed by Nifty Realty and Nifty Private Bank, which slipped 0.5 percent and 0.2 percent respectively. On the gainers’ side, Nifty Consumer Durables and FMCG rose 0.3 percent each, while Nifty Auto and Healthcare added 0.1 percent.
In the IT space, Wipro fell 4 percent and Infosys dropped 1 percent after subdued quarterly results, while Eternal plunged 4 percent following a 63 percent fall in net profit. Analysts pointed to heightened volatility and mixed market cues, advising investors to adopt a cautious “buy-on-dips” strategy, particularly when trading with leverage.
Choice Broking recommended booking partial profits during rallies, maintaining tight trailing stop-losses, and taking fresh long positions only if Nifty holds above the 25,750 mark. While the broader market remains cautiously bullish, close attention to technical levels and global developments is essential in the sessions ahead.
Globally, Asian stocks fell amid concerns over US regional banks and tightening lending standards. US equity-index futures dropped 0.3 percent after Wall Street benchmarks slipped on Thursday. Shares of regional lenders declined sharply following the fallout from the collapse of subprime auto lender Tricolor Holdings, highlighting persistent credit concerns.
Gold hit an all-time high, buoyed by worries over US credit quality and rising geopolitical tensions with China. US Treasuries extended gains, with the two-year yield falling to its lowest level since 2022 and the 10-year yield dipping below 4 percent. The dollar index weakened, on track for its worst week since late July.
The developments underscore lingering uncertainties in the US credit market, adding to investor concerns over a potential government shutdown, fears of an AI bubble, and renewed US-China trade tensions. In Hong Kong, equities fell more than 1 percent, led by technology stocks, as ongoing geopolitical frictions weighed on sentiment. The Treasury 10-year yield dropped two basis points to 3.96 percent, while Australian 10-year yields fell four basis points to 4.11 percent.
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