Indian stock markets opened low on Tuesday as the BSE Sensex fell more than 100 points during intraday trade, while the NSE Nifty slipped below the 23,350 mark.
Among the Sensex gainers were Infosys, Tata Consultancy Services (TCS), HCL Technologies, Tech Mahindra and Wipro, supported by buying in IT stocks. On the losing side, Larsen & Toubro, Axis Bank, State Bank of India, Mahindra & Mahindra and NTPC were among the major laggards. Markets opened sharply lower, with the Sensex initially dropping over 400 points and the Nifty falling below 23,250 before recovering some losses later in the session. Gains in information technology (IT) stocks helped reduce the overall decline.
Investor sentiment remained weak due to uncertainty surrounding US-Iran peace negotiations and ongoing tensions in the region. Global markets are closely monitoring developments, as any escalation could disrupt energy supplies and impact global economic growth.
Crude oil prices remained elevated near $95 per barrel, raising concerns about inflation and increasing India’s import costs. Analysts said markets are likely to remain range-bound with a negative bias until there is greater clarity on geopolitical developments and oil prices show signs of stabilising.
Foreign investors continued to withdraw money from Indian equities, adding pressure on benchmark indices. Persistent FII selling has been a major factor behind the recent weakness in the market. Market data shows that Indian equities have seen significant foreign outflows this year amid global uncertainty and risk-averse investor sentiment.
Market experts expect volatility to continue in the near term as investors keep a close watch on crude oil prices, foreign fund flows and developments in the Middle East. The Reserve Bank of India’s upcoming monetary policy decision is also likely to influence market sentiment and determine the direction of trading in the coming days.
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