Stock Market Today: Nifty50 Opens Lower; Sensex Hovers Near 85,500 Amid Weak Global Cues
Nifty50 and Sensex opened lower on December 2 amid weak global cues. Markets consolidate after recent highs, with analysts advising selective accumulation. FIIs sell while DIIs support the market.
Nifty50 and Sensex open lower as Indian markets track weak global sentiment amid consolidation after recent record highs.
India’s benchmark equity indices opened in the red on Tuesday as weak global sentiment weighed on early trade. The Nifty50 hovered just above 26,150, while the BSE Sensex slipped near the 85,500 mark in a soft start to the December 2 session.
At 9:24 AM, the Nifty50 was trading at 26,152.25, down 24 points (0.09%), and the BSE Sensex stood at 85,523.64, lower by 118 points (0.14%). The decline comes as markets take a breather after recent record highs, with profit-booking continuing across key sectors.
Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said the market appears to be consolidating at higher levels. “Strong GDP growth and robust November auto sales point towards fundamental support for fresh highs. However, the persistent weakness in the rupee remains a concern as it continues to affect FII flows,” he added. He also noted that a pending India–US trade agreement could help stabilise currency pressures.
Vijayakumar suggested that investors use the current consolidation phase to gradually accumulate fairly valued large-caps and growth-focused mid-caps, which are likely to drive the next market rally. He cautioned that small-cap valuations remain elevated.
Despite recent gains, Bank Nifty continues to offer valuation comfort, supported by improving credit growth—a factor expected to lend stability to the broader market.
Globally, Asian markets showed mild recovery after Monday’s decline triggered by a crypto sell-off. In the US, stock indices slipped as rising Treasury yields and manufacturing data reflecting tariff pressures weighed on investor sentiment ahead of the Federal Reserve’s policy announcement next week.
The price of gold fell slightly in early Asian trading after reaching a six-week peak. Profit-taking was expected before the statements of Fed Chair Jerome Powell and the release of important economic data. At the same time, oil prices increased for a second day in a row because of the escalating geopolitical conflict resulting from the Ukrainian drone strikes on Russian energy infrastructures and the increasing discord between the US and Venezuela.
In the institutional segment, foreign institutional investors (FIIs) disposed off shares worth ₹1,171.31 crore on Monday; domestic institutional investors (DIIs) purchased shares amounting to ₹2,558.93 crore thus giving some support to the domestic markets.
