Stock markets opened on a muted note on Tuesday morning as the Sensex opened at 83,964 registering a marginal gain of over 13 points, while the Nifty started trade at 25,767, falling more than 3 points.
Among the top gainers on the 30-share BSE Sensex were stocks such as Bharti Airtel, Titan, Reliance, Adani Ports and Sun Pharmaceuticals. Meanwhile, the laggards included stocks like Bajaj Finance, TCS, NTPC, Tech Mahindra and ITC.
Sectorally, the Nifty Auto index declined 0.66 per cent while the Nifty Media and the Nifty Consumer Durables index rose 0.22 per cent.
In the broader markets, the Nifty Smallcap 50 declined 0.32 per cent, the Nifty Smallcap 250 traded flat, and the Nifty Microcap 250 gained 0.11 per cent as volatility remained high.
During the pre-open session at around 9:03 AM, the Sensex was trading over 83,120 nearly 900 points lower and the Nifty fell more than 140 points to trade at 25,620.
The Gift Nifty indicated a decline of 22 points trading at 25,872 at 8:32 AM on Tuesday.
Profit-Booking And Renewed Foreign Selling
The Indian benchmark indices closed with muted gains on Monday as investors weighed mixed global signals amid a lack of strong domestic triggers. Selling pressure was also visible across most sectors, barring public sector banks, which continued to attract buying interest.
Market analysts attributed the muted start to profit booking and renewed foreign institutional investor (FII) selling, which have capped upside momentum in recent sessions.
What Do Experts Say?
“The domestic market ended on a marginal positive note as profit-booking was visible at the higher levels due to the absence of fresh domestic triggers. While the broader market outperformed since the quarterly earnings are steering investors’ preference to take a short- to medium-term view,” Vinod Nair, Head of Research, Geojit Investments Limited, said.
