Mumbai, Jan 30 || The Indian equity markets traded lower early on Friday as the metal stocks plummeted under pressure.
As of 9.30 am, Sensex eased 525 points, or 0.64 per cent, to reach 82,040, and Nifty lost 159 points, or 0.63 per cent, to settle at 25,259.
Main broad-cap indices posted higher losses than the benchmark indices, as the Nifty Midcap 100 declined 0.81 per cent, and the Nifty Smallcap 100 lost 1.19 per cent.
All sectoral indices were trading in the red except FMCG, pharma and consumer durables. Nifty metal and IT were down 4.28 per cent and 1.41 per cent, respectively.
Immediate support lies at 25,250-25,300 zone, while resistance is anchored at 25,550–25,600 zone, market watchers said.
Analysts said that geopolitical issues continue to plague global trade with continuous threats of tariff weaponisation by US President Donald Trump. The spike in Brent crude to near $70 is a headwind for Indian macros in general and industries that use oil as inputs, in particular.