Indian Market Opens Lower Amidst IPO Frenzy and Middle East Tensions

The Indian stock market started on a cautious note as investors remained nervous due to a packed IPO calendar and escalating Middle East tensions. The Sensex opened marginally lower, down 0.09% at 76,446.05, while the Nifty 50 slipped 0.06% to 23,883.15. Several sectors including IT, media, auto, and private banks were trading in negative territory.

The market was also impacted by higher crude oil prices due to concerns over supply disruptions around the Strait of Hormuz. The Nifty Oil & Gas index edged up 0.06%, while metal, PSU Bank, and Realty indices provided some support.

A total of eleven mainboard IPOs are set to hit the primary market this week, raising concerns about liquidity. This could divert investor attention and funds away from the secondary market, potentially causing further pressure on the market.