Indian equity benchmarks opened sharply lower on Friday as selling pressure intensified amid weak global cues, elevated crude oil prices and continued concerns over inflation and foreign capital flows. The Sensex fell around 700 points at the opening bell, while the Nifty 50 dropped more than 200 points.
The Indian rupee also began the session on a weaker note, opening 24 paise lower at 95.69 against the US dollar, compared with Thursday’s close of 95.45. The rupee’s weakness reflects pressure from higher crude oil prices, a stronger dollar and global risk-off sentiment.
The sharp decline follows a marginal recovery in Thursday’s trade, when the Sensex had closed at 74,902.59, up 138.36 points, while the Nifty 50 ended at 23,477.80, higher by 46.30 points. However, early indicators had already suggested a weak Friday start, with GIFT Nifty trading more than 100 points lower before market opening.
