Mumbai (Maharashtra) [India], February 16 (ANI): The home stock markets began the contemporary week on a weak word on Monday, with each benchmark indices opening within the purple amid continued issues about synthetic intelligence (AI) disruptions within the IT sector.
The Nifty 50 index opened at 25,423.60, down by 47.50 factors or 0.19 per cent. Similarly, the BSE Sensex opened at 82,480.40, declining by 146.36 factors or 0.18 per cent. The decline displays cautious sentiment amongst buyers initially of the buying and selling week.
Market consultants mentioned issues about AI-driven disruptions proceed to have an effect on IT firms, that are an essential a part of the Indian stock market.
Ponmudi R, CEO of Enrich Money, mentioned, ‘Persistent issues round AI-driven disruption proceed to behave as a key overhang for IT heavyweights, reversing a part of the optimism earlier sparked by the US-India interim commerce framework and reinforcing a broader risk-off undertone. Stabilisation throughout the IT sector shall be essential for rebuilding broader market confidence.’
He additional added, ‘FII participation has turned blended and cautious in latest classes, whereas regular DII inflows are providing a level of home help. In the close to time period, sentiment stays fragile, with markets more likely to commerce in a consolidation section till clearer route emerges from international macro indicators.’
The broader market indices on the NSE additionally noticed declines. The Nifty 100 was down by 0.22 per cent, whereas the Nifty Midcap 100 fell by 0.46 per cent. The Nifty Smallcap 100 additionally declined by 0.62 per cent, indicating weak spot throughout firms of various sizes.
Among sectoral indices, most sectors have been underneath stress. The Nifty Metal index declined by 0.81 per cent, whereas the Nifty PSU Bank index fell by 0.46 per cent. The Nifty FMCG index additionally slipped by 0.18 per cent. However, the Nifty IT index confirmed marginal energy and was up by 0.04 per cent.
Meanwhile, gold and silver costs additionally declined on Monday. Gold costs fell by 0.68 per cent to Rs 154,830 per 10 grams for twenty-four karat gold. Silver costs noticed a sharper fall, declining by 2.92 per cent to Rs 237,222 per kilogram.
In different Asian markets, actions remained largely flat. Japan’s Nikkei 225 index was down marginally by 0.09 per cent at 56,890, whereas Hong Kong’s Hang Seng index gained marginally by 0.29 per cent. Markets in Taiwan and South Korea remained closed because of holidays.
Overall, main Asian markets confirmed restricted motion, reflecting cautious investor sentiment. Indian stock market might stay in a consolidation section within the close to time period till clearer international financial indicators emerge and stability returns to the IT sector. (ANI)