The Indian stock market on Tuesday opened in the red after domestic investors sold equities worth ₹1,200 crore, despite foreign investors buying nearly ₹1,900 crore worth of shares at the close of the previous session.
The 30-share BSE Sensex opened 326 points lower while the NSE Nifty 50 dropped nearly 100 points in early trade.
At around 9:35 am IST, the Sensex was trading at 78,224, or 0.41 per cent down, and the Nifty was trading at 24,491.00, or 0.40 per cent below its previous close.
Top gainers on the sectoral indices were Titan, Bajaj Auto, HCL and ONGC, with Titan leading the pack.
However, the top laggards on the sectoral indices were Max Healthcare, IndiGo, Tata Consumer and Axis Bank, with Axis Bank leading the pack.
The strong selloff by domestic investors was triggered by ongoing US-Iran tensions over the Strait of Hormuz, with fears of an escalating war between the two countries.
Brent crude climbed past $87–$88 a barrel, heightening domestic inflation worries.
Amid the mixed global cues, Wall Street settled slightly lower overnight, though major Asian indices traded mixed to higher.
Institutional Activity: Foreign institutional investors (FIIs) net bought ₹1,974.76 crore, while domestic institutional investors (DIIs) net sold ₹1,290.29 crore in the prior session.
Also read: Govt raises Rs 45,306-cr from asset monetisation, disinvestment
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