Indian markets open cautiously as Nifty 50 falls below 23,800
Indian markets kicked off Wednesday on a cautious note; Nifty 50 slipped just under the important 23,800 mark, dropping by 0.12% to 23,795.80 points.
Meanwhile, Sensex managed a tiny uptick to 76,229.76 points.
The rupee also lost some ground against the dollar early on, trading at ₹94.85.
GIFT Nifty futures signal lukewarm open
GIFT Nifty futures pointed to a lukewarm opening after Tuesday's close.
Most sectoral indices were in the red, and mid-cap and small-cap stocks stayed steady.
Despite cheaper crude oil prices helping a bit, investors are feeling uncertain thanks to mixed signals from global markets and worries about FPI outflows or possible US Fed rate hikes.
Foreign investors bought ₹178.6 million equities
Foreign investors bought equities worth ₹178.6 million on Tuesday as corporate earnings expectations improved and monsoon activity picked up, but concerns over this year's big FPI outflow ($29.84 billion) and a hawkish Fed kept everyone cautious for now.