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Indian stock markets continued to face selling pressure for the third consecutive day on Wednesday, with both the Nifty 50 and Sensex indices opening lower. The ongoing market slump was attributed to a range of global factors beyond domestic control.
The Nifty 50 index opened at 24,378.15, down by 93.95 points, or 0.38 per cent, while the BSE Sensex dropped by 299 points to 79,921.13, marking a fall of 0.37 per cent. The bearish trend, which began earlier in the week, was driven by investor concerns over global developments impacting the broader economic landscape.
However, market experts remain optimistic about the long-term prospects of Indian stocks. Ajay Bagga, a banking and market expert, emphasised the promising future for Indian equities. "India offers a massive growth opportunity for the next two decades. This makes Indian stock markets a key investment avenue for long-term gains. While global events may influence short-term market fluctuations, it's essential for investors to stay focused on their financial goals and remain invested," Bagga said. He also pointed out that market recoveries, when they occur, tend to be sharp and fast, meaning the bigger risk for investors is missing out on these rebounds.
In terms of sectoral performance, Nifty Auto, Nifty Pharma, and Nifty Realty all faced selling pressure and recorded marginal losses. Meanwhile, other sectoral indices, including Nifty IT, opened in positive territory. Nifty IT was the standout performer, with a gain of 0.8 per cent in the initial trading session.
Among individual stocks, Bajaj Finance and Bajaj Finserv led the gains in the Nifty 50, whereas Mahindra & Mahindra and Shriram Finance were the biggest losers in early trade on the National Stock Exchange.
As the day progresses, the market will also be closely watching the quarterly financial results from key companies. Major firms such as Hindustan Unilever, Pidilite Industries, Bajaj Finserv, TVS Motors, Bajaj Holdings, and SBI Life Insurance are scheduled to announce their second-quarter earnings for FY25.
In other Asian markets, Japan's Nikkei 225 fell by 0.29 per cent, while Hong Kong's Hang Seng index saw a strong surge of over 1.45 per cent. Meanwhile, Taiwan's Taiwan Weighted index was down by 0.55 per cent, and South Korea's KOSPI index gained 0.8 per cent during the morning session.
According to ANI, the current market volatility is largely driven by external factors, but the long-term outlook remains robust for Indian stocks. Despite the ongoing dip, experts advise maintaining a long-term perspective and continuing with regular investments, as markets are likely to recover in the future.
(With inputs from ANI)
