Indian equity markets opened lower on Wednesday, mirroring losses in global markets triggered by a selloff in technology stocks. The downturn follows a sharp decline in US markets, where the tech-heavy Nasdaq fell 1.4 per cent overnight. European semiconductor giant ASML’s disappointing outlook sparked a broader tech selloff, with the company’s shares plummeting 16 per cent. This negative sentiment spilled over to Asian markets, with most indices trading lower on Wednesday morning. The recent decline in oil prices could potentially benefit oil marketing companies and provide some relief to the Indian economy.

Source: The Hindu October 16, 2024 18:13 UTC