Mumbai, March 13: The Indian stock market opened lower on Friday due to weak global signals. The Sensex fell by 590.20 points or 0.78%, starting at 75,444.22, while the Nifty dropped 176.65 points or 0.75%, opening at 23,462.50.
In early trading, the decline was led by IT and metal stocks. The Nifty IT and Nifty Metal indices were the top losers. Other sectors, including auto, consumer durables, PSU banks, real estate, services, defense, and infrastructure, also opened in the red.
Only the energy index managed to stay in positive territory.
Both mid-cap and small-cap stocks also experienced declines alongside large-cap stocks. The Nifty Smallcap 100 index fell by 181 points or 1.11%, reaching 16,123, while the Nifty Midcap 100 index decreased by 519 points or 0.92%, settling at 55,734.
Within the Sensex pack, Power Grid, ITC, HUL, NTPC, and Sun Pharma were among the gainers. Conversely, Tata Steel, L&T, Indigo, UltraTech Cement, Eternal, BEL, HDFC Bank, Kotak Mahindra Bank, Maruti Suzuki, SBI, ICICI Bank, M&M, HCL, Infosys, and Titan were the notable losers.
Most Asian markets also showed declines. Tokyo, Shanghai, Hong Kong, Bangkok, Seoul, and Jakarta were all in the red. The U.S. markets closed significantly lower on Thursday, with the Dow Jones down by 1.56% and the Nasdaq by 1.78%.
The ongoing conflict between the U.S. and Israel-Iran is contributing to weakness in global markets. Prolonged tensions may impact supply chains, potentially slowing down the global economy or pushing it into recession.
Foreign institutional investors (FIIs) continued to sell in Indian markets, withdrawing ₹7,049.87 crore in equities on Thursday. Meanwhile, domestic institutional investors (DIIs) invested ₹7,449.77 crore in equities.
Arpit Soni has had a passion for journalism since the beginning. Now he has turned this hobby into his profession. Arpit, who is a resident of Udaipur, enjoys editing and writing news related to journalism. He has worked as a Senior Content Producer in several important roles at Bhaskar, Patrika, Pratahkal, Punjab Kesari, and Times. Arpit completed his schooling in Udaipur and Jaipur. He has been working in the media industry for more than 10 years, and his journey is still continuing. ✍️📚
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