First Trade: Markets open lower amid mixed global cues; Nifty dips Below 24,700

Market opening bell: Despite a mixed global backdrop, Indian indices opened on a cautious note on August 28. The Nifty slipped below the 24,700 mark, while the Sensex declined by 180 points in early trade. Market attention is centered on key stocks such as Power Grid Corporation of India, United Breweries, and IndiGo, with other notable movers including Sri Lotus Developers, InterGlobe Aviation, SMS Pharmaceuticals, E2E Networks, Mangal Electrical Industries, HFCL, Edelweiss Financial Services, and Dr Agarwal's Eye Hospital.

On the currency front, the Indian rupee started stronger, appreciating by 16 paise to open at 87.52 against the US dollar compared to Tuesday’s close of 87.68. Investors remain watchful as the market reacts to a blend of domestic and international factors shaping trading sentiment.