Markets Open Lower Despite Fed Rate Cut Optimism
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BTCCSquare news:
Indian equity benchmarks slipped in early trade Friday, defying positive global sentiment following the Federal Reserve's dovish pivot. The Nifty 50 shed 0.34% to 25,336.35 while the Sensex fell 0.39% to 82,687.41, despite opening marginally lower.
Adani Enterprises led gainers with a 3.58% surge, followed by Adani Ports' 1.6% rise. Financial stocks showed mixed performance - Shriram Finance gained 1.12% while Nestle India led decliners with a 1.11% drop.
Analysts attribute the pullback to profit-booking after recent rallies. "Gift Nifty shows fatigue with mild profit-taking likely," noted Prashanth Tapse of Mehta Equities, while maintaining expectations for bulls to regroup after the Fed's 25 basis point cut.
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