Sensex, Nifty Slip at Open as Global Jitters and Bihar Poll Buzz Keep Investors on Edge

Indian markets opened lower amid weak global cues from a Wall Street sell-off and investor caution over Bihar election results. An unexpected outcome could trigger a sharp market correction of 5-7%.

Indian markets started Friday's (November 14) session on a softer note, mirroring the nervous sentiment sweeping across global markets. At 9:15 a.m., the Sensex was down 180.93 points at 84,297.74, while the Nifty dropped 60.15 points to 25,819.00. With vote counting underway, traders are treading carefully. Even though exit polls suggest an NDA victory, brokerages warn that small swings in vote share, especially among EBC and young voters, could affect more than 100 seats. Any surprise outcome, they say, could trigger a sharp 5–7% market correction.

Wall Street's Steep Fall Spills Over to Dalal Street

Global cues did no favours. U.S. markets witnessed a tech-heavy sell-off overnight, with the Nasdaq falling 2.3% and the Dow plunging 800 points. Concerns grew further after the U.S. government reopened following a record 43-day shutdown, raising doubts about the release of key economic indicators.

Sectoral Trends: IT Leads Declines, Pharma Holds Firm

Most sectors opened in the red. Nifty IT saw the steepest fall, followed by FMCG, Realty, Metal and Auto. Private Bank, Healthcare and Consumer Durables also faced mild pressure. However, pockets of buying interest were visible in Oil & Gas, PSU Banks and Pharma, offering some stability.

Long-Term Market Outlook Remains Optimistic

Analysts believe the election buzz will only influence markets briefly. “The medium to long-term trend depends on fundamentals, not politics. With robust GDP prospects and improving earnings, there is room for optimism,” said VK Vijayakumar of Geojit Investments.