India BusinessLiveMarkets open lower as Iran tensions weigh; Sensex falls 134 points, Nifty at 24,063

Indian equities are probable to take cues from Q1 FY27 GDP data on August 31, crude costs and the US non-farm payrolls report due September 4.

Key points

• The Nifty 50 opened 60.90 points lower at 24, 117.55, against its previous close of 24, 175.65.
• The Nifty 50 fell 153.70 points, or 0.64%, to 24, 021.95 at 9: 45 am.
• The Sensex opened 133.78 points lower at 77, 130.73, against its previous close of 77, 264.51.
• The Sensex fell 388.32 points, or 0.50%, to 76, 876.19 at 9: 44 am.
• While the Nifty declined 76.35 points, or 0.31%, the Sensex fell 276.32 points, or 0.35%, last week.

09: 46 (IST) Aug 31. Nifty falls 154 points to 24, 022 in early trade.

In practice, the Nifty 50 fell 153.70 points, or 0.64%, to 24, 021.95 at 9: 45 am. While its high stood at 24, 128.70, the index opened at 24, 117.55 and slipped to an early low of 24, 019.55. 09: 45 (IST) Aug 31. Sensex falls 388 points in early trade.

Meanwhile, the Sensex fell 388.32 points, or 0.50%, to 76, 876.19 at 9: 44 am. The index opened at 77, 130.73 and slipped to an early low of 76, 882.39, against the backdrop of pressure from elevated crude costs and global market weakness. 09: 26 (IST) Aug 31. Nifty opens 113 points lower at 24, 118.

Meanwhile, the Nifty 50 opened 60.90 points lower at 24, 117.55, against its previous close of 24, 175.65. The index slipped to an early low of 24, 038.40. 09: 25 (IST) Aug 31. Stock market today: Sensex opens 134 points lower at 77, 131.

For context, the Sensex opened 133.78 points lower at 77, 130.73, against its previous close of 77, 264.51. The index slipped to an early low of 76, 896.93. The cautious opening comes after the Sensex posted its third straight weekly decline last week; while Iran US tensions re-escalated with both sides directly attacking each other again. 09: 01 (IST) Aug 31.

GDP, crude rates and US jobs data to steer markets this week: Analysts.

As hawkish comments from Fed Chair Kevin Warsh have already climbed rate-hike bets and pushed up Treasury yields, the US jobs report could be particularly significant for expectations around the Federal Reserve's September rate decision.

India's expansion data will offer clues on the strength of the domestic economy against the backdrop of elevated energy rates and the unresolved Middle East conflict. FPIs have invested Rs 30, 919 crore in Indian equities in August, extending their buying streak to a second month.

While the Nifty declined 76.35 points, or 0.31%, the Sensex fell 276.32 points, or 0.35%, last week. 09: 00 (IST) Aug 31.

Australian shares flat as gold miners slide, banks gain on rate hike bets.

As gains in banks offset steep losses in gold miners, australian shares were largely flat, with the S&P/ASX 200 at 9, 095.40.

Gold stocks fell as much as 4.2%, heading for their worst session in more than a month after hawkish comments from Fed Chair Kevin Warsh boosted expectations of US rate hikes and weakened demand for non-yielding gold. Northern Star Resources and Evolution Mining each fell more than 4%.

Banks gained 1.2%-1.8%, with the sector heading for its strongest session in almost four weeks. Investors are additionally increasingly pricing a 25-basis-point RBA rate hike in September after Australian inflation came in above expectations.

Mining stocks fell 1.8%, with BHP down 1.3% and Rio Tinto 1%. While Star Entertainment dropped 3.9% after reporting a larger-than-expected annual loss, technology stocks additionally slipped 1%.

Taken together, the developments around india BusinessLiveMarkets open lower as Iran tensions weigh; Sensex falls 134 points, point to a situation that is still moving, and the coming days should bring more clarity.