GIFT NIFTY indicates weak opening for Indian markets; crude oil cools, Asian markets mixed

The Indian equity benchmarks are set to open lower on Wednesday, September 30, as indicated by NIFTY futures traded at GIFT City in Gandhinagar. NIFTY futures at GIFT City fell 61 points to 22,805 amid mixed cues from Asian markets.

The Indian equity benchmarks declined for a second straight session on Tuesday as investor sentiment remained weak tracking a surge in crude prices and rising bond yields in the United States. The SENSEX fell as much as 707 points and NIFTY50 index touched an intraday low of 22,570.

The SENSEX ended 243 points lower at 72,529 and NIFTY50 index declined 64 points to close at 22,716.

11 of 15 major sector gauges compiled by the National Stock Exchange (NSE) ended lower led by the NIFTY Consumer Durables index's 2.71% fall. NIFTY Realty, Oil & Gas, PSU Bank, IT, FMCG, Auto and Bank indices also fell between 0.4% and 2%.

Saudi Arabia resumed oil tanker loadings from its Red Sea port of Yanbu after restarting operations on the East-West Pipeline, according to trade sources and shipping data, improving the outlook for oil exports from the Middle East, Reuters report added.

Japan's Nikkei advanced 1%, China's Shanghai Composite index advanced 0.13%, Hong Kong's Hang Seng declined 0.08% and South Korea's KOSPI fell 0.5%.

Dow Jones Industrial Average fell 0.26%, S&P 500 index fell 0.17% and Nasdaq index declined 0.09%.

Back home, foreign institutional investors sold shares worth ₹9,980.22 crore on Tuesday while domestic institutional investors bought shares worth ₹6,952.71 crore.