Indian stock markets, including Nifty and Sensex, opened lower on Friday, with experts citing persistent foreign investor selling and low year-end trading volumes. The absence of a 'Santa rally' is noted, with a weak start attributed to these factors. Market focus is shifting to upcoming catalysts in 2026, including the Union Budget, Free Trade Agreement talks with the EU and US, and the mid-January earnings season, which is expected to show an uptick.