The Indian stock markets remained under selling pressure. Bears pulled the indices down for the third day in a row on Wednesday.
At open, the Nifty 50 index had slipped to 24,378.15, down 93.95 points or 0.38 percent. The BSE Sensex index opened at 79,921.13, slipping 299 points which was a decline of 0.37 percent.
Analysts believe that local factors might be in command, but considering the bigger global factors, this selling could persist for quite some time. Ajay Bagga is a banking and markets expert. He says, “India represents the biggest opportunity for growth at a massive scale over the next two decades. This creates great value for investors in Indian stock markets for years to come. Continue with your regular systematic investments in equity and be less bothered by the noise, instead focus on your goals.” He further says that while global events lead to market reactions, the possibility of missing out on the upside is very high. In the sectoral landscape, Nifty Auto, Nifty Pharma, and Nifty Realty witnessed some selling pressure to decline marginally. The remaining sector indices started in the green. Interestingly, the Nifty IT proved to be the top gainer, rising 0.8% in the opening session.
Bajaj Finance and Bajaj Finserv topped the Nifty 50 gainers chart, while Mahindra & Mahindra and Shriram Finance began trading among the day’s top losers on the National Stock Exchange.
Today is a major day for quarterly announcements. Hindustan Unilever, Pidilite Industries, Bajaj Finserv, TVS Motors, Bajaj Holdings, and SBI Life Insurance will declare their respective financial results for Q2 of FY25.
Elsewhere in Asia, Japan’s Nikkei 225 fell 0.29 percent; Hong Kong’s Hang Seng Index surged more than 1.45 percent. In Taiwan, the Taiwan Weighted shed 0.55 percent while the KOSPI index in South Korea climbed 0.8 percent.
In a nutshell, though there are short-term challenges before the Indian markets, experts are quite optimistic about the long-term outlook. Hence, investors must be focused on their strategies and invest regularly despite the current volatility.
ANI
