India’s key equity indices — Sensex and Nifty — opened marginally lower on Friday.
At 9.45 a.m., Sensex was 0.2 per cent or 130 points down at 57,466 points, whereas Nifty 0.2 per cent or 30 points down at 17,193 points.
Among the stocks, Titan, Tata Consumers, Maruti Suzuki, Tech Mahindra, and Asian Paints were the top five losers, while Hindalco, Tata Steel, SBI, Bajaj Auto, JSW Steel the top losers during the opening session, NSE data showed.
“The bullish undertone of the market is evident from the fact that in spite of lots of unfavorable developments Nifty is up by 2.5 per cent in March so far and India is outperforming most of the markets,” said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
A hawkish US Federal Reserve, spiking crude oil prices and uncertainties associated with the war haven’t diminished the enthusiasm of the bulls, Vijayakumar said.