Equity benchmarks opened lower on Thursday, with the Sensex falling over 400 points to 25,940 as global risk aversion and mixed earnings dampened sentiment. IT, banking, and auto stocks dragged the index, though energy counters offered mild support. Traders cited uncertainty surrounding future Federal Reserve policy decisions and persistent bond yield pressures. Market strategists expect heightened volatility until fresh economic indicators emerge in November, guiding expectations for rate direction and corporate earnings outlook in the final quarter of the year.