The Indian stock market began Tuesday with a weak opening. The Sensex opened over 200 points lower at 85,325, and the Nifty was at 26,087. Investor sentiment remained subdued due to profit-taking in financial and private banking stocks.
Stock Market Today: The Indian stock market started Tuesday on a weak note. Despite positive trends in Asian markets, the domestic market showed pressure due to profit-booking in financial services and private banking shares. In the initial hours, both the Sensex and Nifty traded in the red, impacting investor sentiment.
Sensex – Slipped over 200 points in early trade
The 30-share BSE Sensex opened over 300 points lower at 85,325. After opening, there was a slight recovery, but by 9:34 AM, the index was again trading down by 216.91 points, or 0.25%, at 85,424.99. Banking and financial stocks remained under pressure in early trading.
Nifty – Opened below 26,100
The NSE Nifty-50 also opened in the red, with an initial level of 26,087. By 9:35 AM, the Nifty was trading down by 57.85 points, or 0.22%, at 26,117. The primary reason for the market's weakness was profit-taking in private banking and financial services stocks.
Global Markets – Indian Market Weak Despite Gains in Asia
Most Asian markets showed gains today. South Korea's auto sector surged after the US confirmed the retroactive application of a 15% lower tariff on imported cars from the country. Consequently, Hyundai shares rose by nearly 5% and Kia shares by about 3%, leading to the KOSPI closing 1.02% higher.
South Korea's November inflation was 2.4%, slightly higher than estimates, but core inflation remained stable at 2%. This supported the Bank of Korea's decision to maintain interest rates at 2.5%.
Japan's Nikkei 225 showed strength, rising 0.54% in early trade, while the 10-year JGB Yield climbed to 1.88%, its highest level since 2008. Australia's ASX 200 also posted a slight gain, up 0.12%.
Meanwhile, investor sentiment on Wall Street was weakened by a decline in the crypto market. Bitcoin fell by approximately 6%, causing shares of companies like Coinbase to drop. Profit-booking also occurred in AI companies, with the S&P 500 closing down 0.53%, Nasdaq down 0.38%, and Dow Jones down 0.9%.
IPO Update – Several SME IPOs Open for Subscription Today
Several SME IPOs will be in focus for investors today.
IPOs Opening Today
- Neochem Bio IPO (SME)
- Hellozi Holidays IPO (SME)
IPOs Entering Second Day of Subscription
- Revelcare IPO
- Clear Secure Services IPO
- Speb Adhesives IPO
- Invicta Diagnostic IPO
- Astron Multigrain IPO
IPOs Entering Third Day of Subscription
- Purple Wave IPO
- Logicial Solutions IPO
- Exato Technologies IPO
