Opening trade in India skewed cautious as the Sensex slipped alongside mixed Asian prints, with investors parsing slower global growth signals and OPEC+’s decision to pause additional output hikes. Early breadth reflected defensive tilts while energy-sensitive pockets stayed volatile on supply-demand ambiguity. Portfolio managers highlighted rotating preferences toward cash-flow visibility and balance-sheet strength as they reassessed earnings resilience into the November run. Derivatives positioning indicated limited follow-through on risk-on attempts without clearer confirmation from crude curves and policy guidance, keeping near-term direction tethered to cross-asset signals rather than domestic idiosyncratic drivers.