Indian markets opened lower on Tuesday as Sensex and Nifty declined amid continuous foreign fund outflows. Key sectors saw mixed performances, with FIIs offloading equities worth Rs 3,937.83 crore, weighing on investor sentiment.
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Benchmark indices Sensex and Nifty opened on a weak note on Tuesday, as sustained foreign fund outflows continued to dampen investor sentiment, PTI reports.
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After a brief respite in the previous session, the 30-share BSE benchmark Sensex fell by 201.44 points, reaching 75,795.42 in early trade. Similarly, the NSE Nifty dropped 82.65 points, settling at 22,876.85, as per PTI.
Among the major laggards from the Sensex pack were Tata Steel, NTPC, IndusInd Bank, State Bank of India, UltraTech Cement, and Tata Motors. On the other hand, Tech Mahindra, Maruti, Infosys, HCL Tech, and Tata Consultancy Services were among the gainers in the early session, PTI reports.
According to exchange data, Foreign Institutional Investors (FIIs) continued to offload equities, selling shares worth ₹3,937.83 crore on Monday. The ongoing selling pressure from FIIs has contributed to the market's downward trajectory, as per PTI.
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted that despite Monday’s mild recovery, market sentiment remains weak. "The market construct doesn’t favour a rally at this point. FIIs are likely to continue selling, and overall news flows are not positive," he stated.
Despite the weak performance in the domestic market, key Asian markets were trading in the green. Seoul, Tokyo, Shanghai, and Hong Kong all registered gains in early trade, PTI reports.
Meanwhile, US markets remained closed on Monday in observance of 'President’s Day', which limited global trading activity.
In the commodities market, the global oil benchmark Brent crude saw a slight uptick of 0.24 per cent, reaching USD 75.40 per barrel.
On Monday, fag-end buying helped the Sensex snap its eight-day losing streak, with the index rising 57.65 points or 0.08 per cent to close at 75,996.86. The Nifty also recovered 30.25 points or 0.13 per cent to settle at 22,959.50, as per PTI.
As investors continue to assess market conditions, attention remains on foreign fund movements, corporate earnings, and global economic trends that could influence further market direction.
(With inputs from PTI)
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