the Indian stock markets opened lower on Saturday, tracking negative global cues. The 30-share BSE Sensex was down 202.36 points or 0.31% to 64,948.66, while the broader NSE Nifty 50 was trading near 19,300.
The sell-off was led by IT stocks, with TCS, Infosys and Wipro falling 1-2%. Other losers included metals, realty and banking stocks.
However, Adani group stocks were in focus, with Adani Green Energy, Adani Transmission and Adani Power rising 3-4%.
The weakness in the Indian markets is in line with the trend in other Asian markets, which are also trading lower. Investors are worried about the rising possibility of an interest rate hike by the US Federal Reserve, which could dampen global growth.
The Sensex has lost 2.2% in the last five trading sessions. The Nifty 50 has also fallen 2.1% during the same period.
Experts say that the markets are likely to remain volatile in the near term, as investors will be closely monitoring the developments on the global front.
Here are some of the factors that are affecting the Indian stock markets:
- Rising possibility of an interest rate hike by the US Federal Reserve
- Weak global economic growth
- Rising inflation
- Geopolitical tensions
Investors should stay cautious and avoid taking any big bets in the current market conditions. They should focus on investing in quality stocks with good fundamentals.
