Indian Stock Markets Open Lower Despite Global Optimism

13 Nov 2023 , 09:17 AM

The stock markets in India opened on a negative note, with the Sensex down 164.09 points or 0.25% at 65,095.36 and the Nifty down 59.00 points or 0.30% at 19,466.50 by 09:05 am. 

In Asia, stocks were on the rise, and U.S. 10-year Treasury yields remained stable. Despite a Moody’s downgrade to the U.S. credit outlook, investors seemed to take their lead from Wall Street’s Friday rally. 

In the special Muhurat trading session on November 12, buyers were optimistic, taking benchmark indices higher amid lower volume. Investors’ wealth increased by more than Rs 2.22 lakh crore in total market cap of BSE-listed companies. 

The BSE Sensex added 354.77 points or 0.55% to 65,259.45, while the NSE Nifty 50 index advanced 0.52% or 100.20 points to 19,525.55. The total market cap of BSE-listed companies surged to Rs 322.52 lakh crore, reflecting a Rs 2.22 lakh crore increase in investor wealth in just 60 minutes of trading. This equated to a rise of Rs 62 crore every second during the trade.