Nifty Slips Below 23,800, Rupee Weakens as Global Sentiment Drags
Indian benchmark indices opened mixed on Wednesday, with the Nifty slipping below the 23,800 mark while the BSE Sensex edged higher, as global cues weighed on investor sentiment.
The Nifty 50 opened 0.12% lower at 23,795.80, while the Sensex gained 0.04% to 76,229.76 at 9:15 am IST. GIFT Nifty futures stood at 23,861.50, indicating a subdued start after the Nifty closed at 23,824.10 on Tuesday.
The Indian rupee weakened by 9 paise to 94.85 against the U.S. dollar in early trade, reflecting cautious sentiment amid expectations of a tighter monetary policy from the U.S. Federal Reserve and ongoing US-Iran peace negotiations that have eased crude oil prices but not yet revived risk appetite.
Twelve of the 16 major sectoral indices opened in negative territory, while broader mid-cap and small-cap indices were largely flat. The previous session saw Indian blue-chip stocks decline about 1.2%, pulled down by IT and metal shares after a seven-session rally through Monday.
Investors remain watchful of global developments, including the outcome of US-Iran talks and any signals from the Federal Reserve regarding interest rates, which could influence foreign fund flows and currency stability in the coming days.
