Indian benchmark equity indices opened lower on Friday, with the BSE Sensex declining more than 300 points and the NSE Nifty slipping below the 24,600 mark, tracking weakness in global markets and selling pressure in banking stocks.

During early trade, the Sensex was trading around 78,600, down nearly 300 points or 0.40 per cent, while the Nifty 50 fell around 50 points, or 0.20 per cent, to 24,580.

Banking Stocks Under Pressure

Banking shares emerged as the biggest laggards in early trading, dragging the broader market lower. Investors booked profits in several financial counters after recent gains.

In contrast, information technology (IT) stocks witnessed buying interest, helping limit losses in the broader indices despite the weak market sentiment.

Asian Markets Trade Mostly Lower

The cautious mood was also reflected across major Asian equity markets.

South Korea's Kospi declined around 1.15 per cent, while Japan's Nikkei slipped nearly 0.98 per cent in early trade. Hong Kong's Hang Seng Index traded marginally higher, indicating mixed investor sentiment across the region.

Market participants continued to monitor global economic developments, bond yields and expectations surrounding major central bank policy decisions.

US Markets End Lower

Overnight, Wall Street closed in negative territory.

The Dow Jones Industrial Average fell 464 points (0.85 per cent), while the Nasdaq Composite edged lower by 0.06 per cent. The S&P 500 also ended the session with a decline of 0.18 per cent, reflecting cautious investor sentiment.

The weak performance in US equities weighed on Asian markets at the opening.

Foreign Investors Remain Selective

Foreign Institutional Investors (FIIs) remained nearly neutral in the latest trading session, while Domestic Institutional Investors (DIIs) continued to provide support to the market.

Over the past seven trading sessions, foreign investors have made net purchases of approximately ₹2,408 crore worth of Indian equities. However, on a rolling 30-day basis, FIIs continue to remain net sellers.

Domestic institutional investors have maintained steady buying, helping cushion volatility in the market.

Previous Session Ended Higher

Despite Friday's weak opening, Indian markets had ended the previous session on a positive note.

On Thursday, the Sensex gained 374 points, supported by buying in select heavyweight stocks and positive investor sentiment during the latter half of the trading session.

Market analysts expect investors to remain focused on global market cues, corporate earnings, foreign fund flows and sector-specific developments for further direction.