admin 
Mumbai, March 16: Indian stock markets opened slightly lower on Monday. Investor sentiment remained weak due to continued selling by foreign portfolio investors and global uncertainty.
The Nifty 50 opened at 23,116.10, down by 35 points or 0.15 percent. The BSE Sensex opened at 74,415.79, falling by 148.13 points or 0.20 percent.
Market experts say global geopolitical tensions and foreign investor outflows continue to pressure the Indian equity market.
Heavy FPI Selling Weighs on Market
Foreign portfolio investors have been selling Indian equities aggressively this month. Data shows FPIs sold more than Rs 54,000 crore worth of shares in March alone.
Market expert Ajay Bagga said global macroeconomic conditions have started affecting domestic markets. He added that FPIs remain heavily bearish on Indian indices.
According to him, investors have taken net short positions in index futures. This indicates that traders expect further market correction.
Middle East Tensions Impact Global Markets
Rising tensions in the Middle East have also increased uncertainty in global financial markets. Investors remain cautious as geopolitical risks continue to grow.
Experts say these developments have created volatility in commodities and financial markets worldwide.
Crude Oil and Gold Prices Remain High
Global commodity prices also remained elevated during early trading hours.
Brent crude oil traded around USD 104 per barrel, which is higher than last week’s closing levels.
Gold prices remained strong as well. The price of 24-karat gold stood at around Rs 158,400 per 10 grams.
Silver prices, however, declined sharply by 3.24 percent to Rs 259,279 per kilogram.
Technical Weakness in Nifty 50
Sunil Gurjar said the Nifty 50 index is showing technical weakness.
He explained that the index recently broke a key support level. This signals increasing bearish momentum in the market.
If the index remains below this level, further downside may follow. However, any short-term recovery could face resistance near the earlier support zone.
Mixed Trend in Asian Markets
Asian markets showed mixed performance in early trading.
Hong Kong’s Hang Seng index rose by 0.5 percent to 25,589. Taiwan’s weighted index also gained slightly.
However, several other markets traded lower. Japan’s Nikkei 225 declined by 1.05 percent, while South Korea’s Kospi index dropped by 0.38 percent. Singapore’s Straits Times index also slipped slightly.
US Markets Closed Lower
US stock markets closed in the red on Friday.
The Dow Jones Industrial Average fell by 0.26 percent to 46,558. The S&P 500 declined by 0.61 percent, while the Nasdaq Composite dropped by 0.93 percent.
About The Author
