Mumbai, Sep 19: The Indian benchmark indices opened marginally lower on Friday, with IT stocks leading the losses in early trade.

As of 9.26 am, Sensex was down 241 points or 0.29 per cent at 82,772 and Nifty was down 63 points or 0.25 per cent at 25,360.

The US Federal Reserve resumed interest rates cut cycle by reducing rates by 25 basis points but the outlook on further easing in the months ahead failed to meet the investors’ dovish expectations, while markets awaited more cues into US policy path, according to analysts.

Nifty Midcap 100 inched up by 0.16 per cent, and the Nifty Small cap 100 lost 0.04 per cent.

Hero MotoCorp, Shriram Finance, Maruti Suzuki, NTPC, Tech Mahindra were among major gainers on Nifty, while losers were ICICI Bank, Bajaj Finance, Tata Consumer and Titan Company.

Among sectoral indices, Nifty IT, the top loser, lost 0.40 per cent. Nifty FMCG and Nifty Private bank also weighed down on the indices. Except Nifty Realty and PSU Bank all other sectoral indices were trading in the red or with marginal gains.

The Nifty50 held firmly above the 25,400 mark in the previous session, signalling investor confidence with upside momentum intact.

Analysts said that while buying interest is visible at lower levels, the 25,500–25,600 zone remains a stiff hurdle on the upside. On the downside, support is placed at 25,300–25,100 for any minor pullback.

“Market is on an uptrend and is well positioned to set new records soon. Fundamentals, technicals and sentiments are favourable for a steady uptrend. Earnings are likely to improve from Q3 onwards. Technically, short covering is happening and can accelerate,” said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.

From the market sentiment perspective, a US-India trade deal without the penal tariff and a lower reciprocal tariff is likely, he added.

Major US indices made gains overnight as the Nasdaq added 0.94 per cent, the S&P 500 edged up 0.48 per cent and the Dow inched up 0.27 per cent.

Most of the Asian markets were trading in the green during the morning session. While China’s Shanghai index dipped 0.12 per cent, and Shenzhen advanced 0.23 per cent, Japan’s Nikkei edged up 0.77 per cent, while Hong Kong’s Hang Seng Index moved up 0.12 per cent. South Korea’s Kospi lost 0.46 per cent.

On Thursday, foreign institutional investors (FIIs) purchased equities worth Rs 366 crore, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 3,326 crore.

Mumbai, Sep 19: Shiv Sena Uddhav Balasaheb Thackeray (UBT) on Friday claimed that the Maharashtra government was a government of “braggers” and Chief Minister Devendra Fadnavis and his two deputies, Eknath Shinde and Ajit Pawar, have been engaged in boasting most of the time.

The trigger for the Thackeray camp’s outburst is the praise showered by the trio on Prime Minister Narendra Modi’s birthday, claiming how he has changed the lives of people in the country. It targeted Dy CM Shinde in particular for releasing a full-page advertisement on PM Modi’s Viksit Bharat 2047 goal.

The Shiv Sena(UBT) in its mouthpiece ‘Saamana’ editorial alleged that the claims made by CM Fadnavis and Dy CMs Shinde and Pawar about development during PM Modi’s tenure were an exaggeration. It alleged that the “once advanced, wealthy state like Maharashtra is now reeling under a public debt burden of a whopping Rs 9.50 lakh crore. In the last three months, the state government has taken a loan of Rs 24,000 crore, further increasing the debt burden”.

“Chief Minister Fadnavis announced that now we are going to make one crore woman Lakhpati Didis at a time when Maharashtra has gone into the abyss. Corruption and looting have reached their peak. The Chief Minister and the people of Dy CMs Eknath Shinde and Ajit Pawar-led parties have become millionaires and billionaires through the brokerage of contractors. Whether Maharashtra is drowning in debt or farmers have committed suicide due to debt and drought, it does not matter to people like Eknath Shinde,” said the editorial.

The Thackeray camp slammed Dy CM Shinde over his statement that the government is going to take development to the last person, saying that only if villages are developed, the development of the taluka, district, state and country will take place.

The editorial also took a swipe at Dy CM Shinde’s statement that he goes to his native village only to get rejuvenated by working in agriculture. However, the editorial said Dy CM Shinde’s views are contradictory to the ground-level situation, especially when the condition of farmers in Maharashtra is not good. The crops have been washed away due to floods and rain. Farmers have been pleading in front of the officials who came for the Panchnama. In these eight days, 17 farmers committed suicide and over 2,000 in a year. “Lakhs of farmers are in debt, and the smiles on their faces have faded. So, what kind of farm does Dy CM Shinde have and what grows in that farm that makes his face look younger after working in agriculture? So what is he doing to ensure that smile on his face will also be seen on the faces of lakhs of farmers in the state who are in distress?” asked the editorial.

Stepping up the attack on Dy CM Shinde, the editorial claimed that his claim of taking development to the last person is a joke when many villages in his home Thane district are still desperately waiting for the rays of development. “There are no roads, no schools, no health services. During the rain, children have to walk through mud and sometimes through the flooded river to go to school. Sick and pregnant women have to be taken to the taluka by ‘doli’ (a palanquin), but Dy CM Shinde is reaping the fruits of development.”

Thackeray camp said Dy CM Shinde goes to the fields in a helicopter when he is bored. “People like Dy CM Shinde may be looking evergreen, but there is no smile on the people’s faces. His fields should be opened for tourism. Let the people know what grows in his fields. Many millions of farmers get seeds from his lush farming,” it taunted.

Mumbai: Mumbai woke up to scattered light rain showers on Friday morning. Though the city received rains in the early hours, the weather department has not issued any rain alert for today.

According to the IMD, the city would see an overcast sky with intermittent light showers, while a few areas may receive moderate spells. However, there is no forecast of heavy or widespread rainfall. Maximum temperature is likely to touch 28°C, while the minimum may settle at 25°C. Winds near the coast are expected to remain light to moderate.

Neighbouring Thane and Navi Mumbai are set to experience similar conditions. Residents can expect drizzle to moderate showers through the day, with no significant rainfall activity on the radar. Cloudy skies will persist, and the weather is likely to remain humid. Daytime temperatures are expected to hover around 28°C, while the night temperature will remain between 24°C and 25°C.

In Palghar, skies will stay overcast, and the rainfall pattern is expected to be uneven. While some pockets may only see light drizzle, others could receive moderate spells. The weather confirmed that no weather alert has been issued for the district. Maximum temperature is forecast at 28°C and minimum at 25°C, with conditions expected to remain damp and humid.

Further down the Konkan coast, Raigad, Ratnagiri and Sindhudurg districts, which witnessed heavy rain over the past few days, are also expected to see a decline in intensity. IMD officials said only light to moderate showers are likely, accompanied by cloudy weather.

The department clarified that there is no threat of heavy rain on Friday. Coastal winds in these regions may blow slightly stronger than in Mumbai and Thane. Daytime temperature could reach 29°C, while the minimum will remain around 25°C.