Indian stock markets opened on a weak note Monday morning, with both Sensex and Nifty50 witnessing sharp declines. By 9:16 AM, the Sensex had fallen 663 points to 76,843.16, while Nifty50 dropped 216 points to 23,266.05.

 

Last week, markets showed positive momentum post-Budget, but analysts suggest that with limited foreign investor activity during the session, the true market reaction will unfold in the coming days.

 

Technical Outlook:

•Nifty faces resistance between 23,500-23,600; breaking this could push it toward 24,000.

•Key support level stands at 23,300, according to Nagaraj Shetti of HDFC Securities.

 

Global Impact & Market Factors:

•US markets slid after Donald Trump announced new tariffs on imports from Canada, Mexico, and China.

•Oil prices spiked amid concerns over potential supply disruptions.

•The Chinese yuan hit a record low in offshore trading, while the Mexican peso and Canadian dollar also weakened significantly.

 

Investor Activity:

•Foreign portfolio investors (FPIs) sold shares worth ₹1,188 crore on Friday.

•Domestic institutional investors (DIIs) stepped in, buying shares worth ₹2,232 crore.

•FIIs’ net short positions saw a slight increase from ₹1.73 lakh crore to ₹1.74 lakh crore.