Indian stocks opened lower for the fifth straight day on Wednesday, reflecting weak sentiment in Asian markets. At the open, Nifty was down 0.25 percent or 58.6 at 23,824.85, while Sensex fell around 0.08 percent or 60.78 to 78,614.4.

Sentiment turned bearish after the national CPI hit a 14-month high, above the RBI’s comfort zone, at over 6 per cent.

Prashanth Tapse, Senior Vice President (Research), Mehta Equities, said: “Bears dominate Dalal Street, with pessimistic outlook driven by rising US bond yields amid inflationary concerns following Donald’s election victory Trump in 2024. Fears over Trump’s tariff plans, particularly on China, are weighing on emerging markets like India, while metal stocks such as NMDC and VOLTAS are struggling due to China’s disappointing stimulus measures .

Despite record inflows into mutual fund SIPs and falling oil prices, Nifty and Bank Nifty remain bearish, he added.

Asian markets

Most Asian stocks fell on Wednesday, tracking losses on Wall Street as the post-election rally fizzled, while anticipation of key US inflation data also boosted risk aversion. The MSCI Asia ex-Pacific index is trading down 0.71 percent.

The Hang Seng continued to suffer a decline with a decline of 0.61 percent, while the Nikkei index fell further by more than 1 percent.