Sensex opens at 82,200 points, Nifty settles just above 25,100
The Indian stock market started Friday pretty quietly, with Nifty at 25,100 and Sensex just above 82,200.
But things took a dip for banks—Bank Nifty slipped after Axis Bank's shares dropped 5% following its earnings report.
The Nifty Midcap index also opened lower.
Axis Bank drags down banking stocks
Axis Bank's fall set a negative tone for the banking sector overall.
VK Vijayakumar from Geojit Investments pointed out that foreign investors are selling because India's stocks look pricey compared to other markets.
With FIIs increasing their short positions, people are feeling cautious—even though experts like Prashanth Tapse say Nifty still looks strong above 25,470 thanks to easing global trade worries.
Early on, Wipro and Tata Steel were among the few gainers while banks like Axis and Kotak Mahindra lagged behind.