Indian Equity Market Opens Lower Amid Crude Oil Price Surge

The Indian equity market opened on a mildly negative note on Friday amid rising crude oil prices and global cues. The Sensex, which tracks the performance of the top 30 companies listed on the Bombay Stock Exchange (BSE), started at 78,516.08, down 438.68 points or 0.56 per cent from its previous close.

The Nifty, a gauge of the Indian stock market's performance, also opened lower by 97.10 points or 0.39 per cent to 24,538.90.

Financial sector stocks were among the losers in early trade, with declines ranging from 0.5 to 1 per cent. The Nifty PSU Bank and Nifty Private Bank indices also slipped. However, IT, auto, real estate, FMCG, and telecom stocks posted gains of up to 1.5 per cent.

According to experts, the market is consolidating and inching up slowly. They expect this trend to continue in the near term before a potential breakout on the upside.