The domestic stock markets opened almost flat in the red on Tuesday, indicating a volatile session ahead as investors remained cautious before key global events scheduled later this week.
The movement in Indian equities mirrored the mixed trend seen across other Asian markets.
The Nifty 50 index opened at 25,939.95, down 26.10 points or 0.10 per cent, while the BSE Sensex began the day at 84,653.43, lower by 125.41 points or 0.15 per cent.
The subdued opening suggests that traders are likely to adopt a wait-and-watch approach amid heightened uncertainty in global cues.
Market expert Ajay Bagga, Banking and Market Analyst, said, “Indian markets had a strong day on Monday, with banks leading the charge upwards and SMIDs showing strength, pointing to renewed flows into the broader markets. FPI net shorts are down to 75 per cent. With the monthly expiry today for the Nifty and Bank Nifty, and with Asian markets in a narrow range, markets may be more volatile today in India as well.”
Among sectoral indices on the National Stock Exchange, Nifty Auto rose by 0.18 per cent, Nifty IT opened marginally lower, Nifty Media gained 0.54 per cent, while Nifty Pharma edged down by 0.05 per cent.
Meanwhile, global markets remained cautious as investors await major developments this week. US markets continued their upward momentum, with record closes driven by optimism over U.S.-China trade progress, strong corporate earnings, and expectations of a Federal Reserve rate cut on Wednesday.
However, concerns persist as the US government shutdown entered its fourth week, with no signs of compromise between opposing political sides.
Across Asia, markets traded mixed on Tuesday morning. Japan’s Nikkei 225 slipped 0.16 per cent, South Korea’s KOSPI fell 1.11 per cent, while Taiwan’s Weighted Index inched up 0.08 per cent. Hong Kong’s Hang Seng rose 0.14 per cent, and Singapore’s Straits Times advanced 0.7 per cent.
Globally, investors are keeping a close watch on three major events — the Trump-Xi meeting in Korea, the Federal Reserve’s policy decision, and earnings reports from five of the seven “Magnificent Seven” tech giants — all of which are expected to shape market sentiment for the remainder of the year.
(ANI)