The Indian equity markets on Tuesday opened in the red amid surging crude oil prices, negative investor sentiment and continued disruption in the Strait of Hormuz.
Both the BSE Sensex and the broader Nifty 50 crashed as traders assessed the latest developments between the United States and Iran. The Sensex slipped 200 points, while the Nifty 50 declined 30 points within half an hour of the opening bell.
The Nifty 50 slipped 0.13 per cent, or 30 points, to 24,062.25, while the Sensex declined 0.25 per cent, or 200 points, to 77,102.64.
However, broader markets showed better resilience and outperformed both the indices. The Nifty MidCap index gained 0.36 per cent, while the Nifty SmallCap index advanced 0.81 per cent in early trade.
On the sectoral front, the Nifty PSU Bank index was among the top losers in early trade, with the Nifty Bank and Nifty Private Bank indices also under pressure.
Meanwhile, the Nifty Metal index led the gains among sectoral indices.
Asia-Pacific markets were trading on a mixed note as investors await the outcome of the Bank of Japan’s policy meeting.
The Nikkei 225 and the Hang Seng were trading 0.43 per cent and 0.23 per cent down, respectively.
Bucking the trend, South Korea’s Kospi was trading 1.17 per cent up.
Also read: Crude oil tops $109 a barrel amid Iran-US deadlock
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