Benchmark indices Sensex and Nifty opened lower on Tuesday, extending their losing streak for the fifth consecutive session as foreign fund outflows and fresh US tariffs fueled concerns of a trade war. The 30-share BSE Sensex fell by 201.06 points to 77,110.74 in early trade, while the NSE Nifty dropped 79.55 points to 23,302.05.
Key losers and gainers
Among the Sensex constituents, Power Grid, Zomato, Tata Motors, UltraTech Cement, Bajaj Finserv, Sun Pharma, Kotak Mahindra Bank, and Tata Steel were the biggest laggards. On the other hand, Infosys, HCL Tech, Maruti, and ITC managed to gain in early trade.
Foreign Investor Outflows and global market trends
Foreign Institutional Investors (FIIs) continued their selling streak, offloading equities worth Rs 2,463.72 crore on Monday, according to exchange data.
In Asian markets, Shanghai and Hong Kong traded lower, while Seoul was in positive territory. Meanwhile, US markets ended higher on Monday despite global trade concerns.
Oil prices and market performance
Brent crude, the global oil benchmark, edged up 0.26 per cent to USD 76.07 per barrel.
On Monday, the Sensex had declined 548.39 points (0.70 per cent), settling at a week’s low of 77,311.80, while the Nifty slipped 178.35 points (0.76 per cent) to 23,381.60.
Market sentiment remains cautious as investors monitor global economic trends and trade developments.