Sensex, Nifty Open Lower Amid IT Stock Weakness and FII Selloff

Mumbai, July 14 – Owing to ongoing outflows of foreign funds and selling pressure in the IT sectors, Indian benchmark indices opened lower on Monday, continuing their losses from the previous week.

Indices Fall in Early Trade

The BSE Sensex dropped 232.93 points to 82,267.54, while the NSE Nifty declined 71.4 points to 25,078.45 during early trading hours.

Key laggards among Sensex constituents included

• Bajaj Finance
• Infosys
• Tech Mahindra
• Bharti Airtel
• HCL Technologies
• Asian Paints

On the other hand, notable gainers included

• Trent
• Axis Bank
• Mahindra & Mahindra
• NTPC

FII Outflows Continue

The downward pressure was further intensified by aggressive selling from Foreign Institutional Investors (FIIs), who offloaded equities worth Rs 5,104.22 crore on Friday, as per exchange data.

Market Outlook

Due to the IT sector’s ongoing downturn and the absence of clear catalysts, investor concerns are still strong. Market observers believe that if the expected US-India trade agreement, which could include tariff cuts of up to 20%, comes to pass shortly, sentiment may improve. Any setback or delay on that front, though, might have more negative effects.

Global Market Trends

In Asia, South Korea’s Kospi, Shanghai Composite, and Hong Kong’s Hang Seng were trading in the green, while Japan’s Nikkei 225 posted losses. US markets had also ended in negative territory on Friday.

Meanwhile, Brent crude prices inched higher, rising 0.17 per cent to USD 70.48 per barrel, adding to inflationary concerns.

The cautious global cues, coupled with sector-specific pressures and institutional selling, suggest that Indian equities may remain volatile in the near term.

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