Mumbai’s bustling stock exchanges kicked off Thursday on a subdued note, reflecting the uncertainty brewing in global markets. The Sensex dipped marginally by 60 points to open at 83,757.54, while the Nifty hovered just one point lower at 25,755. This flat start comes as investors weigh mixed signals from overseas bourses.
Metal stocks bore the brunt of early selling pressure, dragging the Nifty Metal index to the top of the losers’ list. Sectors like defense, realty, pharma, healthcare, infrastructure, commodities, services, and auto also painted a red picture in the initial trade. In contrast, oil & gas, FMCG, media, and IT sectors bucked the trend, trading in green.
Midcap and smallcap indices mirrored the broader caution, with the Nifty Midcap 100 sliding 179 points or 0.30% to 59,504, and the Nifty Smallcap 100 shedding 137 points or 0.80% to 17,070. This underscores a risk-off sentiment among retail and institutional players alike.
Among Sensex constituents, HUL, Infosys, Trent, TCS, ICICI Bank, NTPC, SBI, and HCL Tech emerged as early gainers, providing some counterbalance. On the flip side, IndiGo, BEL, L&T, Tata Steel, Bharti Airtel, Sun Pharma, Maruti Suzuki, Axis Bank, Titan, Asian Paints, Power Grid, and ITC faced selling pressure.
Global markets offered little clarity, with Tokyo, Shanghai, Hong Kong, Bangkok, and Seoul closing lower. Only Jakarta bucked the downtrend. US indices had ended mixed on Wednesday, adding to the choppiness.
The metal rout spilled over to precious metals, with MCX gold for April 2026 down 1.46% at ₹1,50,813 and silver for March 2026 plunging 9% to ₹2,44,654. Comex gold slipped below $5,000 per ounce, and silver under $80. Crude oil weakened further, with Brent at $68 per barrel (down 2.16%) and WTI at $63 per ounce.
As the session progresses, eyes will be on whether buying emerges in beaten-down sectors or if the caution persists amid geopolitical tensions and commodity volatility. Investors remain vigilant for cues from upcoming economic data and corporate earnings.