Indian stock market opens lower as volatility kicks in
The Indian stock market started Thursday on a downbeat note, with Nifty50 slipping below 25,300 and Sensex dropping nearly 300 points.
Early morning gains faded fast, and the mood stayed cautious as market participants awaited the Economic Survey and the Budget expected to be presented on Sunday.
Why should you care?
If you follow stocks or just like to keep an eye on big money moves, here's what's up: foreign portfolio investors were net buyers, but domestic funds are stepping in to buy.
Global vibes aren't helping either—Asian markets were mixed while the US kept interest rates unchanged.
With important policy updates around the corner and talks like the India-EU trade deal on the horizon, expect more ups and downs ahead.
What's behind all this?
A mix of global uncertainty and local anticipation is driving today's action.
Even though there was a recent 300-point rally over the last two days from short-covering (basically traders closing out bets against stocks), Dr. V K Vijayakumar said foreign investors' short- to medium-term strategy remained "sell India," although foreign portfolio investors were net buyers of Indian equities worth ₹480 crore that day.
So for now, it's a wait-and-watch game until bigger economic news drops.