Indian equity markets opened lower on Monday, tracking weaker global cues. The BSE Sensex fell 54 points or 0.07 percent to 78,644.94, while the Nify50 fell 28.4 points or 0.12 percent to 23,785 in the opening bell.
Mahindra & Mahindra (M&M) and Power Grid were among the top losers, dragging down the indices. Sector indices traded mixed, with Nifty Pharma gaining momentum, while Nifty Metal and Nifty Realty remained under pressure.
Global markets also showed disappointing performance, with Asian stocks mostly falling. Japan’s Nikkei fell 0.75 percent, while Australia’s ASX200 fell 0.43 percent, reflecting concerns over high Treasury yields and light trading ahead of the New Year holiday.
Meanwhile, Deloitte forecasts India’s GDP growth at 6.5-6.8 percent in FY25, driven by strong domestic consumption. However, economists insist that the next Union Budget should address the fall in demand and prioritize reforms in production and employment.
IPO activity remains a bright spot, with four major IPOs and two SME IPOs hitting Dalal Street this week. Investors are closely watching Indo Farm Equipment and other listings.
Stay tuned for live updates on market performance throughout the day.
