Indian equity markets opened on a cautious note on Wednesday after a strong rally in the previous session. At around 9:27 a.m. IST, the Sensex was trading at 73,002.54, down 31.24 points, while the Nifty 50 stood at 22,698.80, lower by 23.15 points.
The previous session had seen both benchmark indices rise by around 1.6%, supported by buying in technology shares following HCLTech’s quarterly results. However, elevated crude prices and continued selling by foreign portfolio investors are limiting confidence. Foreign investors remained net sellers for a 13th consecutive session on Tuesday, while domestic institutions provided support through net purchases.
Investors are watching upcoming company earnings, international inflation data and geopolitical developments for further direction.
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