Indian stock markets opened on a weak note on Tuesday, with benchmark indices witnessing notable declines amid uncertainty surrounding developments in West Asia. Investor sentiment remained cautious ahead of a deadline set by Donald Trump regarding the reopening of the Strait of Hormuz.
The BSE Sensex fell 372 points or 0.50 per cent at the opening to 73,734, while the Nifty 50 started the session at 22,838. Selling pressure intensified in early trade, dragging the Sensex down by as much as 824.44 points or 1.11 per cent to an intraday low of 73,282. The Nifty also slipped 248.95 points or 1 per cent to touch 22,719.30.
Losses were widespread across sectors, with financial, auto, real estate, and pharma indices declining by up to 2 per cent. Stocks such as InterGlobe Aviation (IndiGo), Eternal, Max Healthcare, Mahindra & Mahindra, Eicher Motors, Apollo Hospitals, and Dr Reddy’s Laboratories were among the top laggards.
Market experts indicated that while recent price trends suggest improving sentiment supported by buying at lower levels, sustainability remains uncertain without a decisive move above key resistance levels. Traders were advised to remain selective and wait for confirmation before initiating fresh positions.
Crude oil prices remained elevated, adding to investor concerns. Brent crude futures rose 1.69 per cent to $111.63 per barrel, while US WTI crude climbed around 3 per cent to $115.64 per barrel.
Asian markets showed mixed trends, with the Nikkei trading flat, Hang Seng declining 0.71 per cent, and KOSPI gaining 0.40 per cent. In the US, Wall Street ended slightly higher, with the S&P 500 rising 0.44 per cent to 6,611.83 and the Nasdaq advancing 0.54 per cent to 21,996.34.
Foreign institutional investors continued to offload equities worth Rs 8,167 crore, while domestic institutional investors provided support with purchases of around Rs 8,000 crore.
Also Read: SEBI Chief Warns West Asia Tensions Disrupt Energy Flows; Trigger Price Volatility
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