Mon Sep 30 04:05:00 UTC 2024: ## Indian Markets Dip as Global Uncertainty Persists

**Mumbai, India** – The Indian stock market opened lower on Monday, with the benchmark Sensex and Nifty indices both declining by over half a percent, reflecting global uncertainty amidst rising geopolitical tensions and mixed economic signals.

The Sensex shed 458.61 points, ending at 85,118.46, while the Nifty 50 index fell 128.90 points to close at 26,050.05. The broader market followed suit, with the Mid-Cap and Small-Cap indices also experiencing losses.

Foreign portfolio investors (FPIs) continued their selling spree, offloading shares worth Rs 1,209.10 crore, while domestic institutional investors (DIIs) remained net buyers, injecting Rs 6,886.65 crore into the market.

Despite the market dip, India’s foreign exchange reserves climbed to a record high of $692.3 billion for the sixth consecutive week, indicating a strong external position. The rise was attributed to a $2.84 billion increase during the week, bringing the total increase over the past five weeks to $19.3 billion.

**Positive Developments:**

* Avantel surged 9% after receiving a Rs 44.49 crore order from Larsen & Toubro for the supply of satcom systems.
* Bajel Projects gained 4.09% following its entry into the data centre segment with a new order.

**Global Outlook:**

Asian markets traded mixed, with China’s stimulus measures offset by tensions in the Middle East. The Nikkei plummeted on concerns about the new Japanese prime minister’s stance on interest rates, while the Shanghai Composite surged over 4% due to China’s latest stimulus package.

The US markets closed on a mixed note on Friday, with the Dow reaching a record high despite tech sector volatility.

**Key Takeaways:**

* The Indian market opened lower, reflecting global uncertainty.
* FPI selling continues to weigh on sentiment.
* India’s foreign exchange reserves remain strong.
* Positive developments in the domestic market include Avantel and Bajel Projects receiving new orders.
* Global markets are grappling with mixed economic signals and geopolitical tensions.

**Disclaimer:** This news article is based on information provided in the original text and should not be considered financial advice.

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