Indian equities opened lower on Thursday amid volatile trading influenced by weak global cues and geopolitical concerns, while domestic institutions continued to support the market amid cautious currency movements.
Indian shares started the day on the back foot on Thursday, with weakness in global markets weighing on sentiment after a choppy prior session. According to Analytics Insight, the Nifty 50 opened 22.5 points lower at 24,343.45, the Bank Nifty began 72.8 points below its previous close, and the Sensex slipped 116.33 points to 77,892.92. The broader market was softer still, as mid-cap and small-cap stocks underperformed.
The subdued start followed a volatile stretch in which investors reacted to mixed macroeconomic signals, overseas market moves and profit-taking. Earlier reports from Moneycontrol and The Times of India showed that Indian equities had already faced pressure from global weakness and geopolitical worries, with the Sensex falling sharply before stabilising later in the session. By the close of trading on 14 August, however, the benchmark indices had recovered some ground, with the Sensex ending at 79,105.89 and the Nifty at 24,143.75, according to Financial Express and ET Now.
Market breadth remained uneven. India Infoline reported that declining shares outnumbered advancing ones through much of the session, while sector performance was mixed, with auto and information technology among the few pockets of strength. Metal stocks were notably weak, with Moneycontrol linking the drop to a Supreme Court ruling on tax royalty, while banking and IT also saw pressure during parts of the day.
Support for the market continued to come from domestic institutions. Analytics Insight said foreign institutional investors turned net buyers on 14 August, while domestic institutional investors added significantly more, extending a trend of steady buying from local funds. The rupee, meanwhile, opened slightly weaker at 95.48 to the US dollar, compared with 95.44 at the previous close, underscoring the cautious tone across markets.
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