Indian share markets looked set for a muted session on Tuesday. The BSE Sensex started the day a little above 84,800, crashing 290 points, while the NSE Nifty50 rang the opening bell at 25,848, plummeting more than 100 points.
In the pre-open session, the Sensex tanked close to 300 points and tested 84,800, and the Nifty took a tumble of almost 100 points and stood near 25,850, around 9:05 AM.
Notably, market sentiment turned sharply negative on Monday, wiping off Rs 7.12 lakh crore in investor wealth as the Sensex reversed its two-day winning streak. The benchmark index slumped 609.68 points, or 0.71 per cent, to end at 85,102.69, with broad-based selling triggered by profit booking and persistent foreign investor outflows. The combined market capitalisation of companies listed on the BSE fell to Rs 4,64,19,108.91 crore ($5.15 trillion).
According to Siddhartha Khemka, Head of Research (Wealth Management) at Motilal Oswal Financial Services, the sharp slide reflected heightened caution ahead of the US Federal Reserve’s upcoming policy review, continued FII selling, and profit taking across indices. The Nifty50 also mirrored the mood, losing 226 points to close at 25,961.
