Indian Market Opens Cautiously Amid Broad-Based Commodity Sell-Off
The trading session is set to begin on a cautious note, with GIFT Nifty pointing to a gap-down opening around the 23,105 level. The Indian Rupee remains stable against the US Dollar, holding steady at the previous close levels.
Commodities are witnessing a broad-based sell-off, which could weigh on sectors linked to raw materials and energy costs. Precious metals like gold and silver have corrected sharply, while natural gas prices have dropped significantly.
Crude oil remains one of the few bright spots, gaining ground amid supply concerns or demand expectations. Domestic Institutional Investors (DIIs) continue to act as a stabilizing force, absorbing the selling pressure from Foreign Institutional Investors (FIIs), who turned net sellers in the latest reported session.