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- Indian equities showed mixed opening amid global market caution.
- Asian markets fell sharply, dragged by technology stock declines.
- Wall Street closed mixed, impacting overall investor sentiment.
Indian equity benchmarks showed a mixed trend in opening on Tuesday, October 13, as steep losses across Asian markets and weakness in global technology stocks kept investors cautious.
The BSE benchmark, Sensex, opened the session in green, climbing a little over 200 points and tested 71,700, while the NSE Nifty50 rose about 50 points and inched closer to 22,300, as of 9:15 AM.
Investors will track global market movements, crude oil prices and precious metals for further direction during the session.
GIFT Nifty Signals Cautious Opening
GIFT Nifty indicated a mildly positive start for domestic equities, trading at 22,408.50, up 22 points. However, the sharp declines across Asian markets and mixed performance on Wall Street pointed to a cautious trading environment.
At around 9:01 AM, the Sensex stood at 72,051.21, up 126.53 points, or 0.18 per cent. The Nifty was trading at 22,234.20, down 129.15 points, or 0.58 per cent.
Market sentiment remained under pressure as investors assessed technology-sector weakness and developments in energy markets.
Asian Markets Fall As Technology Stocks Slide
Asian equities came under heavy selling pressure on Tuesday, with technology stocks leading the decline.
South Korea’s Kospi fell more than 6 per cent, recording the steepest losses among the major regional indices. Japan’s Nikkei 225 declined 2.7 per cent, while Hong Kong’s Hang Seng slipped 0.82 per cent.
The weakness followed a mixed session on Wall Street, where technology shares remained under pressure.
Wall Street Ends Mixed
US markets closed with a mixed performance overnight. The Nasdaq Composite declined 0.44 per cent, while the S&P 500 edged down 0.06 per cent.
The Dow Jones Industrial Average, however, bucked the trend, ending 0.38 per cent higher.
The mixed performance offered limited direction to Asian markets, with investors continuing to assess developments across global equities.
Crude Oil Falls 1.2%; Gold And Silver Also Decline
Crude oil prices moved lower on Tuesday morning as traders assessed the possibility of additional diesel supplies from Russia.
Brent crude futures for December delivery fell 1.2 per cent to $105.40 per barrel on the Intercontinental Exchange.
Despite the decline, oil prices remained above $100 per barrel, keeping energy costs and inflation concerns on investors’ radar.
Precious metals also traded lower. Gold futures declined 0.23 per cent, while silver futures fell 0.71 per cent.
