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Indian benchmark equity indices opened lower on Friday, led by weak sentiment flowing from global markets, due to rising risks of escalating conflict between Israel and its allies on one side, and Iran and its supporters on the other.
At opening bell, the BSE Sensex was at 82,244, down 252 points, or 0.31 per cent, while the Nifty 50 was at 25,181, down 68 points, or 0.27 per cent.
Global Cues
Meanwhile, Asia-Pacific markets were mixed on Friday, following the lower overnight close on Wall Street, as concerns over escalating tensions in the Middle East made investors cautious ahead of the September US payrolls data.
In Australia, the S&P/ASX 200 fell 0.98 per cent, while Japan’s Nikkei 225 was up 0.11 per cent, and the broader Topix was up 0.27 per cent.
South Korea’s Kospi rose 0.78 per cent, while the Kosdaq was up by 1.61 per cent.
Hong Kong’s Hang Seng index was up 0.48 per cent, while markets in mainland China were closed until October 8.
Apart from that, global stocks also fell on Thursday, weighed by tepid trading in equity markets across the US and other major regions, while oil prices jumped, buoyed by rising geopolitical tension from the Middle East conflict.
Wall Street’s main indexes finished lower after trading slightly higher early in the session. Data released on Thursday showed rising US jobless claims, indicating labour market softness, but strong service-sector activity.
The closely watched nonfarm payrolls report for September is due on Friday.
The Dow Jones Industrial Average fell 0.44 per cent to 42,011.59, the S&P 500 fell 0.17 per cent to 5,699.94 and the Nasdaq Composite fell 0.04 per cent to 17,918.48.
European stocks finished down 0.93 per cent as investors digested weak business activity survey data from the bloc. MSCI’s gauge of stocks across the globe fell 0.39 per cent to 842.18.
Israel bombed Beirut early on Thursday following a year of clashes with Iran-backed Hezbollah. Asked if he would support Israel striking Iran’s oil facilities, US President Joe Biden told reporters on Thursday “we’re discussing that.” He added: “There is nothing going to happen today.”
Brent crude futures settled up 5.03 per cent at $77.62 a barrel. US West Texas Intermediate (WTI) crude futures settled up 5.15 per cent to $73.71.
