Benchmark equity indices opened on a weak note on Friday, tracking subdued global cues and continued foreign fund outflows. 

At around 10:30 am, the 30-share BSE Sensex declined 430.18 points to 81,818.43 in early trade. The broader NSE Nifty fell 160.80 points to 25,335.75. 

Key stocks at a glance

From the 30-share Sensex pack, Maruti Suzuki, Bharti Airtel, Hindustan Unilever, Mahindra & Mahindra, Kotak Mahindra Bank, and UltraTech Cement were among the key laggards. On the other hand, Infosys, Tech Mahindra, HCL Tech, and Eternal traded in the green. 

According to exchange data, Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,465.99 crore on Thursday. In contrast, Domestic Institutional Investors (DIIs) purchased shares worth ₹5,031.57 crore. 

Global markets remain mixed

Asian markets were mixed on Friday following an overnight decline on Wall Street, triggered by a sharp fall in Nvidia shares despite the company reporting quarterly earnings that surpassed expectations. The pullback in Nvidia weighed on technology stocks, a key driver of the recent rally. 

Japan’s Nikkei 225 slipped 0.6 per cent, South Korea’s Kospi dropped 1.1 per cent, while Australia’s S&P/ASX 200 was little changed in early trade. In broader Asian trade, South Korea’s Kospi, Japan’s Nikkei 225 and China’s SSE Composite Index were lower, whereas Hong Kong’s Hang Seng Index traded in positive territory. 

Overnight in the US, the Dow Jones Industrial Average edged up 0.03 per cent. However, the S&P 500 fell 0.54 per cent and the tech-heavy Nasdaq Composite declined 1.18 per cent. 

In commodities, Brent crude, the global oil benchmark, dipped 0.07 per cent to USD 70.70 per barrel. 

On Thursday, the Sensex had slipped 27.46 points, or 0.03 per cent, to settle at 82,248.61, while the Nifty gained 14.05 points, or 0.06 per cent, to close at 25,496.55. 

Rupee slips 4 paise

Meanwhile, the rupee depreciated 4 paise to 90.95 against the US dollar in early trade on Friday, weighed down by foreign fund outflows and weakness in domestic equities. At the interbank foreign exchange market, the local unit opened at 90.91 against the greenback before slipping to 90.95, compared with its previous close of 90.91 on Thursday. 

Forex traders said a weaker US dollar and lower global crude prices capped further losses in the domestic currency.