Sensex, Nifty Face Weak Opening as US Yields and Crude Remain Elevated

Indian equity benchmarks are likely to begin October on a cautious note, with GIFT Nifty indicating a weak opening. GIFT Nifty was trading around 22,632 on Thursday morning, while the US 10-year Treasury yield climbed above 5.3%. Elevated global borrowing costs and crude prices are keeping investors cautious.

Foreign institutional investors remained heavy sellers in the previous session, selling shares worth around Rs.10,148 crore, while domestic institutional investors bought approximately Rs.11,272 crore. The market is also coming off a weak September, when Indian equities faced pressure from geopolitical concerns and sustained foreign outflows.