Sensex, Nifty open lower amid weak global cues

Indian stocks opened lower on Friday, weighed down by heavy financial data and by weak global signals, after the European Central Bank raised interest rates and worries about the US banking sector resurfaced with the collapse of Backwest Bancorp.

the Nifty 50 It decreased by 0.54 percent, at 18,156.55, while S&P BSE Sensex It lost 0.61 percent.

Eight major sectoral indices out of 13 declined, with heavyweight financial institutions losing 1.5 percent. The sharp decline in the financial statements was led by Housing Development Finance Corporation which decreased by more than 5 percent. HDFC and HDFC Bank They were among Nifty’s 50 biggest losers.

The decline in HDFC twins comes after MSCI’s implementation of HDFC twins was updated post-merger.