Sensex, Nifty decline in early trade as power, metal stocks drag markets lower
India’s Sensex and Nifty declined in early trading as weakness in power and metal shares pulled the broader market lower. Asian equities were also broadly down, with several major benchmarks losing ground amid a sharp regional sell-off.
The Sensex and Nifty moved lower at the start of trading on Friday as investors steered clear of power and metal stocks. The decline in sectoral shares outweighed gains elsewhere in the Indian market, leaving the two principal benchmarks on the indices in negative territory during early trade.
The weakness formed part of a broader decline across Asian markets. A regional benchmark fell 3.12 per cent, the Hang Seng dropped 3 per cent, Japan’s Nikkei 225 lost 1.94 per cent and the SSE Composite slipped by nearly 1 per cent. The simultaneous losses suggest that investors were responding to wider concerns rather than to company-specific developments alone.
For Indian investors, the early slide matters because sharp declines across Asia can influence capital flows, currency movements and sentiment at home. Power and metal shares carry significant weight in Indian equity markets, so sustained weakness in those sectors could keep the Sensex and Nifty under pressure. Trading through the session will indicate whether the initial losses deepen or recover.
Comments 0