Indian Markets Open with Marginal Decline Amid Global Influences

Indian markets faced a slight decline on Monday's opening. The Nifty 50 and BSE Sensex indices dipped, influenced by global factors. Major companies like Vodafone Idea and NMDC are set to announce earnings, while sectoral indices, except for Nifty Consumer Durables, experienced selling pressure.

Indian markets opened with a marginal dip on Monday, with both indices registering a decline during the opening trade. The Nifty 50 index started at 24,320.05, down 47.45 points or 0.19 percent, while the BSE Sensex opened at 79,296.67, shedding 409.24 points or 0.69 percent.

All broad market indices on the National Stock Exchange, including Nifty Next 50, Nifty 100, and Nifty 200, recorded slight declines upon opening. Notably, the NSE's volatility index, India VIX, surged during the session. According to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, both global and domestic factors are likely to influence the market this week. Key global data points include US consumer data and core CPI numbers, while domestically, the Hindenburg report's fallout is expected to be negligible.

Selling pressure hit sectoral indices, with the exception of Nifty Consumer Durables, which managed to stay afloat. Major companies like Vodafone Idea, NMDC, Happiest Minds, Orchid Pharma, and National Aluminium Company are set to report their first-quarter earnings today. Among Nifty 50 companies, the top gainers in early trade were Britannia, ONGC, Grasim, Tech Mahindra, and Asian Paints. However, Adani Enterprises, Adani Ports, NTPC, Power Grid, and State Bank of India were among the top losers.

Globally, the S&P 500 witnessed a rise of 0.47 percent to 4,464.05, and the Nasdaq Composite went up by 0.51 percent to 13,644.85. Asian markets presented a mixed bag, with Japan's Nikkei 225 gaining 0.26 percent, while China's Shanghai Composite saw a decline of 0.27 percent.

(With inputs from agencies.)