Early Trade: BSE Sensex opens 150 points lower; Nifty50 slips below 24,750

Indian equity markets opened on a red note on Monday as the BSE Sensex fell over 150 points, trading below 82,000, while the Nifty50 fell below 24,750. Investors are awaiting key global and domestic signals, including the Fed’s rate decision.

Market Update

• Opens session highlights
  At 9:18 AM, the BSE Sensex was down 169 points at 81,964.22, down 0.21 percent. Nify50 traded at 24,728.20, shedding 40 points or 0.16 percent.

• A technical perspective
  Despite the dip, analysts remain optimistic, with targets likely to break 25,000 in the short term. On the other hand, support is expected at 24,550.

• Key triggers

  • Manufacturing and Services PMI data for India.
  • The last annual meeting of the Federal Reserve will be held on December 18, with markets widely expecting a 25-point interest rate cut.

Landmarks

• US markets ended lower on Friday, with the S&P 500 and Dow reporting weekly losses, while the Nasdaq gained for a fourth week in a row.
• Asian markets remained mixed, awaiting Chinese economic data.

Some highlights

• Oil prices have fallen from recent highs.
• The US dollar remained close to a three-week high.
• Eight stocks, including Granules, RBL Bank, and SAIL, remain under the F&O ban list.

Outlook
With strong levels of technical support and focus on global indicators, markets can recover from early losses, as long as global sentiment stabilizes.