The Indian equity market opened in the red on Tuesday as both the BSE Sensex and NSE Nifty opened sharply lower amid mixed developments from West Asia. The mixed cues from Asian markets also failed to lift investor sentiment, resulting in a gap-down opening for the benchmark indices.
The BSE Sensex opened 0.45 per cent, or 450 points, lower at 73,945.20 points, compared to 74,267.34 points at the previous close.
The Nifty 50 also opened sharply lower, down 0.66 per cent or 153 points at 23,229 points compared to 23,382.60 points at the previous close.
Due to fluctuations in investor sentiment, the markets showed weakness even before the opening bell.
The GIFT Nifty futures were trading 0.85 per cent lower at 23,242.50 points, as investors anticipated a gap-down open amid continued fund outflows and a lack of positive triggers.
According to fresh market data, foreign investors sold ₹3,911.68 crore worth of assets across the exchanges on Monday.
This reflects decreased investor confidence, especially among foreign investors who have continued dumping stocks in the Indian market.
Top gainers included Infosys (up 3.7 per cent), TCS (up 2.9 per cent), Tech Mahindra (up 1.6 per cent), HCL Tech (up 1.6 per cent), Tata Steel (up 1 per cent), and Hindalco (up 1 per cent), while stocks like Asian Paints, Wipro, M&M, Jio Financial, and JSW Steel were trading near flat but positive levels.
Also read: Rupee rises 16 paise to 95.03 against US dollar in early trade
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