Indian stock markets opened on Tuesday in the red, with both the BSE Sensex and Nifty 50 indices trading lower. The Sensex was below the 77,900 mark, while Nifty 50 opened at 23,467.10. Key stocks from the IT sector, including Tech Mahindra and Infosys, were the major losers, while ONGC and Bharat Electronics Ltd were the top gainers in the session.
At 10:10 AM, the BSE Sensex stood at 77,585.76, while Nifty 50 hovered at 23,467.10. On the previous trading day, Indian markets closed lower, mainly driven by declines in banking and automobile stocks. The market sentiments were also impacted by weak trading in global markets, including both Asian and US markets, where declines were witnessed due to low trading volumes.
On the BSE Sensex, only 10 stocks were in the green, with Zomato leading the losses, dropping 2.17 percent. Other major losers included Tech Mahindra, HCLTech, Infosys, and TCS. On the gainers' list, State Bank of India (SBI) led the pack, rising 0.51 percent, followed by Nestle India, Asian Paints, Adani Ports & SEZ, and Hindustan Unilever.
The Nifty 50 mirrored the trend, with 21 stocks advancing and the rest declining. ONGC was the top gainer on the Nifty, climbing 1.29 percent, followed by BEL, Coal India, SBI, and Kotak Mahindra Bank. However, Tech Mahindra, Infosys, TCS, HCLTech, and Adani Enterprises were among the significant losers.
Sector-wise, the IT sector saw the sharpest decline, shedding 2.13 percent, followed by the Realty index, which dropped 1.05 percent. Other sectors that underperformed included Nifty Bank, Financial Services, Consumer Durables, FMCG, and Auto indices. On the positive side, sectors such as Pharma, PSU Bank, Metal, Healthcare, and Oil & Gas saw gains, providing some support to the market.
This weak start to the day reflects the cautious sentiment in the market, with investors focusing on global trends and sector-specific performances. As the day progresses, the market’s ability to recover will depend on domestic factors and any potential developments in global markets.
