Indian equity markets looked set for a mildly negative start on Tuesday, with benchmark indices trading lower in the pre-open session after Monday’s rally, as investors assess global cues and institutional flows. A major selloff across tech stocks and IT indices dragged down the sentiment prevalent across the markets.
The BSE benchmark rang the opening bell near 82,900, crashing more than 350 points, while the Nifty50 tested 25,600, taking a hit of a little over 100 points, around 9:15 AM.
On the 30-share Sensex, the early gainers included Tata Steel, PowerGrid, L&T, NTPC, and SBI. On the other hand, the laggards included Infosys, HCL Tech, TCS, Eternal, and Bharti Airtel.
In the broader markets, the Nifty Microcap250 tanked 0.83 per cent. Sectorally, the IT index crashed 2.47 per cent, followed by a 1.54 per cent downfall in the Midsmall IT & Telecom index.
Notably, in the pre-open hour around 9:08 AM, the Sensex was at 83,058.68, down 235.98 points, and the Nifty stood at 25,641.80, lower by 71.20 points or 0.28 per cent, indicating a cautious opening. The subdued pre-open trend follows a firm close in the previous session, when domestic equities ended higher on improved global sentiment.
Markets On Monday Rally On US Tariff Relief
On Monday, benchmark indices Sensex and Nifty advanced, supported by gains in PSU banks, auto and financial stocks after the US Supreme Court struck down the Trump administration’s sweeping reciprocal tariff policy.
The Sensex soared close to 500 points to settle at 83,294.66. During the session, the index climbed as much as 671.44 points, or 0.81 per cent, to touch an intra-day high of 83,486.15.
The Nifty gained 141.75 points to close at 25,713. Intra-day, it surged 200.20 points, or 0.78 per cent, to hit 25,771.45.
Vinod Nair, Head of Research at Geojit Investments Ltd, said the US Supreme Court’s ruling against Trump’s reciprocal tariff policy was welcomed by domestic markets. However, investors are awaiting further clarity on the US administration’s revised strategy and the possibility of renegotiations by other countries.
