The Indian benchmark indices, BSE Sensex and NSE Nifty50, opened almost flat on Tuesday amid deteriorating trade relations between US and China. The Sensex started trading over 82,562, rising 235 points while the Nifty began trading at 25,283, increasing by 55 points, near 9:15 AM.
In the pre-open session, both the indices rose marginally, with the 30-share Sensex jumping nearly 77 points and the Nifty50 climbing around 50 points, at 9:12 AM. The Gift Nifty around 8:57 AM showed a marginal increase of 0.01 per cent, rising to 25,308.50 points.
In the broader markets, the Nifty VIX declined by 0.72 per cent and the Nifty Smallcap 50 and Nifty Smallcap 100 gained by 0.46 per cent. Sectorally, the Nifty Auto index declined 0.14 per cent and the Nifty IT index gained by 0.97 per cent.
Among the top gainers in the opening session on Tuesday were stocks like Tech Mahindra, HCL Tech, Tata Steel, Infosys and Reliance, and the laggards included Bharti Airtel, Trent, Titan, State Bank of India and Adani Ports.
How Did Markets Fare Yesterday?
On Monday the Indian equity indices had opened on a cautious note due to tensions between US and China and the markets closed in the red as the trade relations between US and China deteriorated further. US President Donald Trump announced an additional 100 per cent tariff on Chinese exports, which led to a weak trend in the markets.
Additionally, markets also declined due to selling in IT and FMCG shares.
This also triggered broad-based profit-booking in early Monday trade, reflecting heightened investor caution. However, reports of an Indian trade delegation visiting the US this week lifted sentiment, fuelling optimism about a potential breakthrough in bilateral trade negotiations and the successful conclusion of a long-awaited trade deal, Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.
