Mumbai, July 30 — Indian equity benchmarks opened on a subdued note on Thursday amid mixed global cues, with gains in information technology and pharmaceutical stocks largely neutralised by weakness in banking and realty shares.

The Sensex opened at 77,638.86, down 15.74 points or 0.02 per cent. The Nifty started at 24,249.55, lower by 0.65 points.

Sectorally, Nifty IT led the early advance, rising 1.39 per cent. Nifty Pharma, Nifty Healthcare, Nifty MidSmall IT & Telecom and Nifty Auto followed with gains of up to 0.54 per cent. On the downside, Nifty Realty declined 0.80 per cent, Nifty Chemicals fell 0.45 per cent and Nifty Private Bank slipped 0.42 per cent.

Market analysts said the domestic market continues to show signs of a potential breakout, though several external factors are capping near-term upside. A spike in Brent crude prices toward $90 a barrel, linked to escalation in the US-Iran conflict, was identified as a significant headwind.

The US Federal Reserve’s decision to hold interest rates steady, while widely anticipated, was viewed as mildly negative for equities because the vote was split 9-3, with three members preferring a rate increase to address inflation concerns. Despite these pressures, analysts expect the Indian market to retain relative resilience.

Weakness in global semiconductor stocks has prompted some reallocation by foreign portfolio investors. FPIs have turned net buyers of Indian equities so far in July.

In commodity markets, Brent crude eased 1.75 per cent to $89.15 a barrel, while US West Texas Intermediate declined 1.47 per cent to $83.21 a barrel.

Asian equity markets traded mixed. Japan’s Nikkei rose 0.72 per cent, Hong Kong’s Hang Seng was marginally lower by 0.02 per cent and South Korea’s KOSPI fell 0.57 per cent. Overnight in the United States, the S&P 500 closed down 1.52 per cent and the Nasdaq Composite declined 1.74 per cent.

The early session reflected a cautious tone, with sector rotation providing selective support even as global risk factors and elevated oil prices limited broader momentum. Traders will watch whether domestic buying interest in IT and healthcare can outweigh persistent pressure in financials and real estate as the day progresses.