Sensex, Nifty Open Lower as Infosys and Zomato Stocks Decline

India’s main stock market indices, Sensex and Nifty, opened lower today as shares of major companies like Infosys and Zomato dropped in early trading. Their weak performance pulled down the overall market and affected investor sentiment.

At the opening bell, the Sensex fell by several points, while the Nifty also slipped below key levels. Infosys, one of India’s top IT companies, saw its stock price fall after investors reacted to weak earnings forecasts and concerns about slowing demand in the technology sector. Zomato, a leading food delivery company, also faced selling pressure after reports of reduced customer spending and rising competition in the online food delivery space.

These two major companies weighed heavily on the indices because they hold significant weight in the market. When large-cap stocks like Infosys and Zomato fall, they tend to pull the market down with them. Other sectors like banking and auto remained mostly flat, while some metal and energy stocks showed small gains.

Market experts said global factors also played a role in the weak opening. Overnight losses in US markets and concerns about interest rate hikes by the Federal Reserve made investors cautious. Foreign investors slowed down their buying activity, which added to the negative mood in the market.

Traders also pointed to rising inflation and uncertain global economic conditions as reasons for the cautious trading approach. Some investors decided to book profits after recent market gains, adding to the selling pressure in the early hours.

Despite the weak start, analysts believe the market may recover later in the day if global cues improve or if there is positive news from domestic companies. They advised investors to watch company earnings reports, global interest rate trends, and currency movements for direction.

In summary, the Sensex and Nifty opened lower today, mainly due to a drop in Infosys and Zomato shares. Investors remained cautious amid global uncertainty and weak tech earnings, keeping the market under pressure in early trade.