ndian benchmark indices opened lower on Wednesday, with the Sensex and Nifty slipping in early trade as volatility in crude oil prices and continuing US-Iran tensions kept investors cautious. While Asian markets traded higher, domestic equities remained under pressure at the start of the session.
The BSE Sensex fell more than 70 points and tested 72,450, while the NSE Nifty50 took a hit of over 50 points and inched closer to 22,650, as of 9:15 AM.
GIFT Nifty Signals Weak Opening
The GIFT Nifty pointed to a subdued start for domestic equities, with futures quoted at 22,816, down 50 points.
At around 9:06 AM, the Sensex was trading at 72,411.97, down 117.10 points or 0.16 per cent. The Nifty stood at 22,639.80, lower by 76.40 points or 0.34 per cent.
The indication came as investors continued to assess movements in crude oil prices and geopolitical developments involving the US and Iran, both of which have been influencing risk appetite across global markets.
Asian Markets Gain As Oil Prices Ease
Asian equities moved higher on Wednesday as crude oil prices pared some of their recent gains and technology stocks advanced.
Japan’s Nikkei 225 rose 1.29 per cent, while South Korea’s Kospi gained 0.43 per cent.
The positive trend across some Asian markets followed a relatively mixed session on Wall Street.
Wall Street Ends Lower
US markets closed in negative territory in the previous session.
The Dow Jones Industrial Average declined 0.26 per cent, while the S&P 500 fell 0.17 per cent. The Nasdaq Composite also ended lower, slipping 0.09 per cent.
The overnight performance provided limited support to domestic equities as investors continued to monitor global risk sentiment.
Crude Oil Prices Steady After Sharp Fall
Crude oil prices steadied during Asian trading hours after falling nearly 3 per cent in the previous session.
The decline came after Saudi Arabia restored half of the capacity of its East-West pipeline following drone attacks, easing some concerns around the immediate supply outlook.
On the Intercontinental Exchange, September Brent crude futures were quoted at $103.73 per barrel, up 1.11 per cent in early trade.
Oil prices remain a key market trigger for Indian equities, particularly amid concerns over their potential impact on inflation and broader macroeconomic stability.
Gold, Silver Futures Rise
Precious metals also traded higher in early deals.
Gold futures gained 0.56 per cent, while silver futures advanced 0.41 per cent.
The movement in precious metals comes as investors continue to assess geopolitical uncertainty and developments in global markets.
With domestic indices opening lower despite gains across major Asian markets, investors are likely to track crude oil movements and geopolitical developments closely during Wednesday’s session.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: abplive.com
