Domestic equity benchmarks opened lower on Tuesday, with both indices starting trade in negative territory. The BSE Sensex declined 208.84 points, or 0.27%, to open at 77,094.79, while the Nifty 50 fell 42.80 points, or 0.18%, to begin trading at 24,049.90.
Indian equity markets commenced the second trading session of the week on a weaker note, with investor sentiment remaining cautious in early trade amid weak global cues and profit booking. The opening losses followed a b close in the previous session, where the Sensex had risen by 639 points and the Nifty had gained nearly 195 points on Monday.
Market breadth remained weak in early trade, indicating broad-based selling pressure. Of the 30 Sensex constituents, only eight stocks opened higher while 22 declined. Similarly, within the Nifty 50, 13 stocks advanced, 34 declined, and three remained unchanged.
Selective stocks recorded gains in early trade. Shares of Larsen & Toubro rose approximately 0.36%, making it one of the top gainers on the Sensex. Other stocks that opened higher included Tata Consultancy Services, Adani Ports and Special Economic Zone, Bharat Electronics Limited, NTPC Limited, and ICICI Bank. In the auto segment, Mahindra & Mahindra showed marginal gains, while in the financial segment, Bajaj Finance also traded slightly higher.
On the downside, several heavyweight stocks were under pressure, weighing on the indices. Shares of State Bank of India declined the most, falling approximately 1.25%. Other banking stocks including Axis Bank, Kotak Mahindra Bank, and HDFC Bank also traded lower.
Weakness was also observed in the IT and FMCG sectors, with shares of Infosys, Hindustan Unilever, and ITC Limited opening in negative territory.
Additionally, heavyweight stocks such as Reliance Industries, Maruti Suzuki, and Bharti Airtel also registered declines in early trade. Global crude oil prices and geopolitical developments may also play a role in determining market direction.
