Indices open in red on mixed global cues, NIFTY50 at 25,836, SENSEX falls 156 points; Tata Motors CV, ONGC top losers

The Indian stock market opened marginally lower on Thursday, November 13, tracking mixed global cues, as weakness in IT and auto stocks along with continued foreign fund outflows weighed on sentiment.

The broader market, however, was seen in green in the early session, with the Nifty Midcap 100 and the Nifty Smallcap 100 rising 0.09% and 0.11%, respectively.

Among sectors, Nifty IT took the lead among the losers’ pack, declining 0.72%, followed by Nifty Auto and Nifty FMCG, each slipping 0.37%, Nifty Private Bank (-0.31%) and Nifty Oil and Gas (-0.29%).

Meanwhile, Nifty Metal (0.91%), Nifty Realty (0.72%) and Nifty Pharma (0.12%) were the only gainers.

According to exchange data, on Wednesday, the foreign institutional investors (FIIs) sold shares worth ₹1,750.03 crore, while the domestic institutional investors (DIIs) bought equities worth ₹5,127.12 crore on a net basis.

Globally, Asian markets traded mixed on Thursday as investors stayed cautious amid a lack of fresh economic data, leaving uncertainty around the Federal Reserve’s policy outlook.

South Korea's KOSPI and Japan's Nikkei were trading marginally up by 0.05% and 0.04%, respectively. The Shanghai Composite gained 0.44%, while Hong Kong's Hang Seng slipped 0.43%.

On Wall Street, the major US indices ended mixed on Wednesday, with the Dow hitting a record high as investors grew optimistic about a potential resolution to the government shutdown.

The S&P 500 rose 0.06% to end at 6,850.92, and the Dow Jones Industrial Average gained 0.68% to close at 48,254.82, while Nasdaq slipped 0.26% to settle at 23,406.46.

As many as 2,667 stocks traded on the NSE during the early session, among which 1,578 advanced, 994 declined, and 95 shares remained unchanged.

This indicates that the market's breadth is favourable towards advances.

Meanwhile, 48 stocks hit their one-year highs in the early trade, while 37 stocks touched their 52-week lows.

Further, 41 stocks hit their upper circuits, while 26 hit their lower circuits.

India VIX, the volatility gauge, was trading at 11.99 levels, rising 0.99%.

Tata Motors CV was the biggest laggard, declining 2.82% followed by ONGC (-2.15%), Infosys (-0.93%), Eternal (-0.91%) and Max Healthcare (-0.77%).

On the flip side, Asian Paints (3.39%), Tata Steel (1.94%), Bajaj FInserv (1.5%), Hindalco (1.12%) and IndiGo (1.1%) were the top gainers on the 50-share index.