Nifty Slips Below 22,500, Rupee At 94.93, Navi Mumbai Airport Flight Shift Begins

Indian equity markets started on a weak note with the Nifty breaching the key 22,500 support level and slipping towards 22,400. In currency and commodity trade, the Indian rupee opened stable at 94.93 per dollar, while MCX Silver jumped 1,300 rupees to 1.97 lakh rupees per kilogram and MCX Gold climbed 500 rupees to 1.42 lakh rupees per 10 grams. IT major Infosys faced selling pressure, dropping over two percent after lowering its guidance following Q2 numbers. Market analyst Avinash Gorakshakar advised avoiding crude-sensitive sectors such as oil marketing, paints, and chemicals amid elevated oil prices, while recommending defensive plays in hospitality, healthcare, and selective private banks. Meanwhile, Mumbai's aviation operations prepare for a significant transition, with airlines IndiGo and Air India Express scheduling phased shifts of domestic and Middle East international flights to the upcoming Navi Mumbai International Airport ahead of Terminal 1 redevelopment.