The Indian equity benchmark indices, the BSE Sensex and the Nifty50, opened lower on Thursday. The Nifty50 fell below 24,300 while the BSE Sensex fell below 80,000. The BSE Sensex was down 192 points, or 0.24%, at 79,924.90. At 24,284.00, the Nifty50 was down 45 points, or 0.18%.
Wednesday saw stock markets rise for the seventh consecutive session, hitting a four-month high, driven by steady purchases by foreign institutional investors and a positive outlook on the global market after encouraging events in the US.
While monitoring US tariff developments, market analysts expect continued gains in Indian stocks, supported by strong domestic factors and ongoing buying interest.
US stocks rose on Wednesday as optimism grew about US-China trade relations, while President Donald Trump allayed fears about Federal Reserve independence by stating that he has "no intention of firing" Fed Chair Jerome Powell.
Asian equities moved cautiously in Thursday's opening session, as global recovery momentum slowed due to unclear indications from the Trump administration about Chinese tariff plans.
Gold prices rose on Thursday as investors took advantage of buying opportunities after hitting one-week lows the day before, influenced by US President Trump's assurances that Federal Reserve Chair Jerome Powell would be retained and his comments on China trade talks.
The dollar paused on Thursday after a significant increase. Oil prices rose slightly early Thursday, rebounding from a nearly 2% drop the previous day, as market participants weighed potential OPEC+ production increases against mixed tariff signals from the White House and ongoing US-Iran nuclear negotiations.
On Wednesday, foreign portfolio investors became net buyers, totaling Rs 3,333 crore. DIIs sold shares worth Rs 1234 crore.
FIIs' net short position fell from Rs 78,335 crore on Tuesday to Rs 70,771 crore on Wednesday.
