Indian Stock Market Opens Lower Amid Global Headwinds

The Indian stock market started the week on a weak note, despite the country's economy showing robust growth in the first quarter. The BSE Sensex opened at 76,862.13 points, down 0.12% from the previous day's close, while the NSE Nifty 50 traded at 24,059.05 points, down 0.09%. The decline came despite a strong Q1 GDP growth of 7.8%, which provided reassurance about the underlying strength of the economy.

However, investors remained cautious amid pressure from global markets, higher crude oil prices, and elevated US bond yields. Asian markets broadly reflected the weak global sentiment, with Hong Kong's Hang Seng falling 1.11% to 25,284.00 and Singapore's Straits Times declining 0.71% to 5,714.59.

V K Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, commented on the market outlook, saying that the Q1 GDP growth was reassuring but warned of potential global headwinds. He noted that the US 10-year bond yield at 4.77% and the 30-year yield at 5.24% remained negative factors for equity markets.

Crude oil prices continued to be a concern, with Brent crude climbing 0.73% to USD 91.15 per barrel and WTI crude rising 1.03% to USD 86.64 per barrel. Gold edged lower by 0.06% to trade at USD 4,438.51.