Daijiworld Media Network - Mumbai

Mumbai, Dec 18: Equity benchmark indices edged lower in early trade on Thursday, mirroring a weak trend in global markets.

The 30-share BSE Sensex fell 214.87 points to 84,344.78, while the 50-share NSE Nifty slipped 56.10 points to 25,762.45 in early trade.

Among Sensex constituents, Sun Pharma, Tata Motors Passenger Vehicles, Mahindra & Mahindra, NTPC, Bharat Electronics, and Maruti were the top laggards. In contrast, HCL Tech, Tata Consultancy Services, Tech Mahindra, and ITC were among the gainers.

Asian markets opened on a cautious note, with South Korea’s Kospi, Japan’s Nikkei 225, and Hong Kong’s Hang Seng trading lower, while Shanghai’s SSE Composite managed gains. US markets ended lower on Wednesday, with the S&P 500, Nasdaq, and Dow extending their losing streak amid profit-booking in high-valuation technology and AI stocks.

Ponmudi R, CEO of Enrich Money, said, “Global markets enter today’s session on a cautious footing following a sharp overnight sell-off in the US. Investor sentiment also remains cautious ahead of the release of US consumer price inflation data, prompting participants to stay defensive and avoid aggressive positioning.”

Institutional activity showed positive flows, with Foreign Institutional Investors (FIIs) turning net buyers on Wednesday, purchasing equities worth Rs 1,171.71 crore. Domestic Institutional Investors (DIIs) also bought stocks worth Rs 768.94 crore. Amruta Shinde, Technical & Derivative Analyst at Choice Equity Broking, noted, “FIIs turned net buyers after 14 consecutive sessions of selling, while DIIs remained supportive. Market participants are likely to track global trends, crude oil prices, and institutional flows for incremental direction.”

Brent crude, the global oil benchmark, rose 0.65% to USD 60.07 per barrel. In the previous session, the Sensex had declined 120.21 points to 84,559.65, while the Nifty fell 41.55 points to 25,818.55.