Mumbai: Equity markets opened lower on Thursday as persistent foreign fund outflows and concerns over US H-1B visa fees unsettled investors. Weak global cues further weighed on sentiment.
The 30-share BSE Sensex fell 141.32 points to 81,574.31 in early trade, marking its fifth consecutive decline. The 50-share NSE Nifty dropped 22.4 points to 25,034.50.
Among Sensex stocks, Tata Motors, Asian Paints, Titan, HCL Tech, TCS, Maruti, and Eicher Motors were the biggest losers, while Bharat Electronics, Bharti Airtel, ICICI Bank, Larsen & Toubro, Adani Ports, and Infosys gained ground.
Over the past four days, the BSE benchmark has lost 1,298.33 points (1.56%), and the Nifty has fallen 366.7 points (1.44%).
Foreign Institutional Investors (FIIs) sold equities worth ₹2,425.75 crore on Wednesday, according to exchange data.
“Concerns over steep US tariffs and the new $100,000 H-1B visa fee are pressuring sentiment. Nifty faces strong resistance at 25,300,” said Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd.
In Asia, South Korea’s Kospi traded lower, while Japan’s Nikkei 225, Shanghai’s SSE Composite, and Hong Kong’s Hang Seng moved higher. Meanwhile, US markets ended lower on Wednesday.
“The main drag on the market this year has been sustained FII selling. However, India’s ongoing reforms and low interest rate environment can boost economic and corporate earnings growth, which should attract FIIs back to the market,” said VK Vijayakumar, Chief Investment Strategist at Geojit Investments Ltd.
Global oil benchmark Brent crude fell 0.43% to USD 69.01 a barrel.
On Wednesday, the Sensex had declined 386.47 points (0.47%) to close at 81,715.63, while the Nifty ended 112.60 points lower (0.45%) at 25,056.90.
