Indian Equities Open Lower Amid Global Headwinds

Indian equities opened lower on Tuesday, despite a robust GDP growth of 7.8% in the first quarter. The BSE Sensex dropped 95.14 points or 0.12%, while the NSE Nifty 50 traded at 24,059.05 points, down 21.35 points or 0.09%. The subdued opening came amid weak global cues, elevated crude oil prices, and rising US Treasury yields.

V K Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, said the strong Q1 GDP growth was reassuring and indicated that India remained on track to achieve around 7% growth in FY27. However, he cautioned that global headwinds could weigh on equities in the near term.

Rajesh Palviya, Head of Research at Axis Direct, noted that the near-term market undertone remained cautious as long as the Nifty traded below 24,200. He said immediate support was placed at 23,900, followed by 23,800.