Stock Market Opening Bell: Sensex, Nifty open lower as IT and infra stocks drag; global cues weak

Stock Market Opening Bell: Indian equity markets opened on a subdued note on Friday as investors digested the ongoing Q2 earnings season and tracked mixed global cues. Weakness across Asian markets, along with a record rise in gold prices amid renewed US-China tensions, weighed on investor sentiment.

At 9:20 AM, the BSE Sensex was down 103 points or 0.12 per cent at 83,365, while the Nifty50 slipped 33 points or 0.13 per cent to 25,552.

Among the key drags on the benchmarks were HCL Technologies, Eternal, Infosys, Tech Mahindra, Adani Ports, and Ultratech Cement, all falling up to 2 per cent in early trade.

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In the broader market, the Nifty MidCap index eased 0.14 per cent, while the Nifty SmallCap index managed to stay slightly in the green, adding 0.05 per cent.

Sectorally, IT stocks led the decline, with the Nifty IT index slipping 1.2 per cent, tracking losses in global technology shares after muted guidance from US peers. Meanwhile, metal and energy stocks traded mixed, while banking counters showed resilience.

On the global front, Asian markets traded weak after Wall Street ended lower overnight. Persistent concerns over geopolitical tensions between the US and China, along with elevated bond yields, kept risk appetite muted. However, a sharp fall in crude oil prices, with Brent crude testing $60 per barrel, could lend support to domestic equities in the near term.