Indian equities opened lower on Friday, halting a two-day rally, as investors reacted to a global selloff prompted by inconclusive U.S. jobs data that has created uncertainty around near-term interest rate movements. The BSE Sensex fell over 100 points, and the NSE Nifty was trading below 26,150. Despite the early losses, domestic benchmarks remain near record highs.
At 9:37 AM IST, the Sensex was down over 50 points, while the Nifty also slipped below the 26,200 mark. ICICI Bank and HCL Technologies were among the top laggards in the early trading session.
On Thursday, the Indian market closed near record territory, driven by Reliance Industries' strong quarterly performance, which helped to restore confidence in a broader market recovery. The S&P BSE Sensex climbed 446 points, or 0.52%, to close at 85,632.68, while the NSE Nifty 50 advanced 139 points, or 0.54%, to settle at 26,192.15.
Global markets showed a negative trend, influencing the domestic market's opening. Asian markets displayed a mixed performance, with South Korea's Kospi, Shanghai's SSE Composite index, and Hong Kong's Hang Seng trading positively, while Japan's Nikkei 225 index quoted lower. The U.S. markets ended lower on Thursday.
Concerns over potential delays in U.S. rate cuts due to rising service inflation have dampened market sentiment, offsetting hopes for positive outcomes from US-India trade discussions. Foreign Institutional Investors (FIIs) have been offloading equities, adding to the downward pressure.
On November 7, 2025, the Indian stock market experienced a decline in early trading due to profit-taking, which overshadowed the impact of healthy earnings reports and progress in India-US trade negotiations. At 11:35 am, the 30-share BSE Sensex was down 0.21% at 83,134.30 points, while the broader Nifty 50 fell 0.22% at 25,454.35 points.
Several factors have contributed to the recent market volatility. Uncertainty surrounding trade deals has kept investors cautious, awaiting concrete market cues. Additionally, concerns over discretionary spending in the U.S. have impacted IT stocks, further dragging down the market.
In terms of individual stock movements, Ola Electric Mobility surged 5% in early trade on March 21, 2025, after the company addressed discrepancies in its February sales data. Conversely, shares of global IT consultancy firm Accenture fell 7.3% overnight on the same day, contributing to a drop in the Nifty IT index.
Investors are also closely monitoring statements from US Federal Reserve Chair Jerome Powell at the Jackson Hole Symposium for further insights into the economic outlook and potential policy changes.
