Mumbai, Sep 25: The Indian benchmark indices opened marginally lower on Thursday, as persistent volatility and mixed global cues continue to weigh on investor confidence.

As of 9.25 am, Sensex was down 91 points, or 0.11 per cent at 81,807 and Nifty was down 24 points, or 0.096 per cent at 25,081.

Amid concerns over FII outflows and US visa curbs, traders are looking for cues from the Q2 corporate earnings, pinning their hopes on a trade deal between the US and India.

The broadcap indices, Nifty Midcap 100 and Nifty Smallcap 100, dipped by 0.04 per cent. Hindalco, Dr. Reddy’s Labs, ONGC, Tata Steel, and Tata Consumer were among major gainers on the Nifty pack, while losers included Tata Motors, Bajaj Finance, Titan Company, Maruti Suzuki and Hero MotoCorp.

Among sectoral indices, Nifty IT, the top loser, lost 0.23 per cent. Nifty Auto (down 0.21 per cent) and Nifty Private Bank (down 0.14 per cent) also weighed down on the indices. Nifty Metal and Nifty Pharma made minor gains.

The Nifty index managed to hold above the 25,000 mark but closed negative for the fourth consecutive session.

Analysts said that the index upswings thereof failed to gain enough momentum to push beyond the 25,278-25,330 region, reflecting sustained selling pressure and cautious market sentiment.

On the upside, immediate resistance is placed at 25,100, followed by 25,250. On the downside, support lies at 25,000 and 24,900, they said.

The reforms being implemented in India, along with the low interest rate regime, have the potential to push economic growth and corporate earnings growth higher.

This should bring FIIs back to the Indian market, but the timeline is uncertain, the analysts added.

The US markets ended in the red zone overnight, as Nasdaq dipped 0.34 per cent, the S&P 500 dropped 0.28 per cent, and the Dow lost 0.37 per cent in the last trading session.

Most of the Asian markets were trading in the green during the morning session. While China’s Shanghai index edged up 0.19 per cent, and Shenzhen advanced 1.29 per cent, Japan’s Nikkei inched up 0.20 per cent, while Hong Kong’s Hang Seng Index added 0.37 per cent. South Korea’s Kospi lost 0.02 per cent.

On Wednesday, foreign institutional investors (FIIs) sold equities worth Rs 2,425 crore, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 1,211 crore.

Hindu groups have announced gatherings in the city with banners saying ‘I love Mahadev’ to counter the ‘I love Muhammad’ campaign by Muslims.

Muslims have put up banners at mosques and on the streets in Mumbai in response to an incident in Kanpur where police registered cases against a group for displaying similar boards on a public road, saying that it hurt the religious sentiments of other religious communities.

The Bajrang Dal said that the banners have been put up with an ulterior motive to create unrest. Gautam Ravaria, Konkan province co-convenor of the Bajrang Dal, said that in Kashmir, policemen were chased by people carrying the banners. “We are not opposed to the banners. But we are suspicious of their motive,” said Ravaria, who added that their campaign will be replicated in other parts of the country. 

On Wednesday, Hindus were asked to join a meeting at Aarey Milk Colony, Unit 20, in the evening.The dispute over the banners has deepened, with Muslim groups saying that the police action against the banners was religious discrimination.

Raza Academy, a Mumbai-based group, wrote to the President, Draupadi Murmu, on Wednesday, stating that the police are acting on behalf of certain politically motivated instructions. “The role of the police is to maintain law and order, not to silence or target individuals based on their religious beliefs or expressions. These actions by law-enforcing agencies are creating fear, unrest, and a sense of alienation among the youths and the members of the Muslim community, undermining the democratic fabric of our nation,” the group said.

The police action is a violation of fundamental rights protected in the Constitution of India and more specifically of Article 19 (1)a, Article 21, and 25, the group said, appealing to the President to intervene and get the Uttar Pradesh police to withdraw all cases filed against individuals for writing, or displaying ‘ Love Muhammad’.

The group demanded that a high-level, impartial, and transparent investigation be conducted into these incidents, and strict action be taken against police officers who have acted in excess of their authority.

Mumbai: The controversy over ‘I Love Mohammad’ posters, which began earlier this month in Uttar Pradesh’s Kanpur, has now triggered protests in several states including Uttar Pradesh, Uttarakhand, Telangana, and Maharashtra. Muslim clerics and community leaders in Mumbai have also stepped in, demanding withdrawal of cases filed by Kanpur police.

At Malvani police station in Mumbai, Maulanas and clerics submitted a memorandum claiming the FIRs were unjustified. They urged the state government to act swiftly and ensure that the religious sentiments of the community were respected.

The row started on 4 September during the Barawafat (Eid-e-Milad-un-Nabi) procession in Kanpur. Groups of youths marched with green flags and posters reading “I Love Muhammad”, while distributing sweets and singing devotional songs. Later that evening, similar banners appeared on shopfronts and traffic points in Beconganj and Anwarganj.

According to locals, the act was purely devotional. However, some Hindu groups objected, arguing that this was a “new tradition” not associated with Barawafat celebrations.

Tensions rose after police removed a few banners citing lack of prior permission. Videos circulating online showed arguments and scuffles between residents and police. Crowds gathered demanding reinstatement of the posters, prompting police to use mild force and detain ten people.

Soon, similar disputes surfaced across Uttar Pradesh. In Bareilly, a proposed hoarding near Dargah Ala Hazrat was blocked by police, leading to a brief sit-in. In Sambhal, municipal workers erased wall graffiti with the same slogan, sparking late-night demonstrations.

On 9 September, Kanpur police filed FIRs against 24 people, accusing them of disturbing communal harmony by introducing a “new custom” during the procession.

The controversy gained momentum after AIMIM chief Asaduddin Owaisi criticised the FIRs, insisting that saying “I Love Muhammad” was no crime.

Meanwhile, Kanpur Police Commissioner Ramkrishan Yadav defended his force, stating that the banners were obstructing traffic and had been erected without permission. “Our action was aimed at maintaining public order, not at hurting sentiments,” he said, appealing for peaceful celebrations.

The issue quickly spread beyond Kanpur. Demonstrations were reported in Nagpur, Mumbai, Hyderabad, and Uttarakhand. In Mumbai, clerics held peaceful gatherings, but in Kashipur (Udham Singh Nagar, Uttarakhand), the protests turned violent on Sunday night.

Police alleged that the Kashipur rally was held without permission. According to SSP Manikant Mishra, the crowd attacked police personnel and vandalised vehicles when officers tried to disperse them. Seven people were arrested, ten detained, and alleged mastermind Nadeem Akhtar was questioned. The district administration also demolished several structures, terming them “illegal encroachments.”

With protests still simmering, authorities are appealing for calm while religious leaders continue to demand withdrawal of FIRs. The row has underscored the deep sensitivities around faith, tradition, and freedom of expression—issues that remain at the heart of India’s communal debates.