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Mumbai, January 9 :
Indian equity markets opened lower on Friday as selling pressure continued due to concerns over US tariff threats and sustained foreign portfolio investor (FPI) outflows.
The cautious mood also reflects uncertainty ahead of the upcoming corporate earnings season and key global developments.
Benchmark Indices Open in the Red
The NIFTY 50 opened at 25,840.40, down 36.45 points or 0.14 per cent.
The BSE Sensex started at 84,778.02, slipping 183.12 points or 0.22 per cent.
Market experts said indices may attempt to stabilise after recent declines.
FPI Outflows Continue to Pressure Markets
Banking and market expert Ajay Bagga said Indian markets could see consolidation after four straight sessions of losses.
He noted that FPIs have sold around USD 900 million worth of Indian equities in January so far. This follows record outflows of USD 19 billion in 2025.
Bagga added that Nifty and Sensex have fallen nearly 2 per cent over the past four sessions. He attributed the decline to US threats of further sanctions on Russian oil imports and a proposal to impose 500 per cent tariffs on countries trading with Russia.
Earnings, US Tariffs and Budget in Focus
According to Bagga, markets are awaiting clarity on three major factors. These include the upcoming earnings season, developments on the US tariff front, and expectations from the Union Budget.
While earnings may offer some stability, tariff-related news continues to weigh on sentiment. On the Budget front, analysts expect defence, industrial and railway stocks to benefit. However, major tax relief or stimulus measures appear unlikely.
Broader Markets and Sectors Under Pressure
Selling pressure extended to broader indices on the NSE.
The Nifty 100 fell 0.15 per cent, Nifty Midcap 100 slipped 0.05 per cent, and Nifty Smallcap 100 declined 0.16 per cent.
Sectoral indices also opened mostly lower.
Nifty Auto fell 0.12 per cent, Nifty IT dropped 0.16 per cent, Nifty Pharma slipped 0.01 per cent, and Nifty Realty declined 0.28 per cent.
Global Cues to Drive Market Direction
Ponmudi R, CEO of Enrich Money, said investor sentiment remains cautious due to global trade uncertainties and concerns over potential US tariff actions.
He added that the lack of progress in US–India trade discussions continues to keep foreign investors on the sidelines.
Later in the day, markets will track the US jobs report and the US Supreme Court’s verdict on the legality of Trump-era tariffs. The court’s decision could significantly influence global market sentiment.
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