Indian equity markets opened on a weak note on Thursday, with the Nifty50 slipping below the 26,000 mark and the Sensex down around 227 points.
At about 9:18 a.m., the Sensex was at approximately 84,770, down 226.92 points (–0.27 %) while the Nifty50 was around 25,977.30, down about 76.60 points (–0.29 %).
One of the major drags on the market is the pharmaceutical sector, which is under pressure today. The Nifty Pharma index was down about 1.10% in the early session.Among individual stocks, Dr Reddy’s Laboratories fell around 4% on reports of regulatory concerns and negative news flow.
Global cues are also weighing. The Federal Reserve in the United States cut interest rates but signalled uncertainty over further cuts, which dampened risk appetite among investors. Domestically, the broader market breadth was relatively modest — at one stage 34 stocks advanced and 16 declined on the Nifty50 list.
Other sectoral pressure points include metal and FMCG segments, though it is the pharma weakness that is dominating sentiment this morning. For example, besides Dr Reddy’s, other pharma names such as Sun Pharma and similar players are under pressure, which feeds into cautious market mood.
From a technical perspective, the Nifty slipping under 26,000 is psychologically meaningful. Market watchers will now be watching whether it rebounds above that level or breaks further, triggering deeper concerns. The cues from global markets, regulatory headlines (especially for vulnerable industries such as pharma), and domestic liquidity flows will be critical in shaping the rest of the session.
In sum, today’s market start is reflecting a mix of global caution and sector‐specific risk, with the pharma sector acting as a prominent drag on investor sentiment. If the negative news flow sustains or widens, the index could see deeper consolidation or correction in the near term.
Summary
Indian markets opened lower with the Nifty50 under 26,000 and Sensex down ~227 points, as pharma stocks — led by Dr Reddy’s 4% drop — weighed on sentiment amid global rate worries.