Sensex And Nifty Begin Trading On A Muted Note, Weak Global Markets And Rising Crude Oil Prices Keep Investors Cautious

Mumbai: Indian equities opened on a subdued note on Tuesday as rising crude oil prices and weak global markets kept investors cautious. The Sensex opened at 72,633.68, down 138.04 points, or 0.19 per cent. The Nifty began at 22,732.45, lower by 47.80 points, or 0.21 per cent.

Auto and FMCG Shares Slip

Selling was visible across several sectors in morning trade. Nifty Auto, Media, FMCG and Cement declined by up to 0.64 per cent, while consumer durables, metal and chemical shares also traded lower.

Pharmaceutical and healthcare stocks offered some relief. The Nifty Pharma and Nifty 500 Healthcare indices gained nearly 1 per cent.

Crude and Bond Yields Add Pressure

Elevated oil prices remained a concern for the Indian stock market. Brent crude traded at $106.87 a barrel, up more than 1 per cent, while US West Texas Intermediate rose over 1 per cent to $93.99.

Analysts also pointed to the US 10-year bond yield at 5.23 per cent as part of an unfavourable global backdrop for equities. They said attractive valuations in some large-cap growth stocks could still offer opportunities to long-term investors.

Nifty Levels in Focus

The near-term market outlook remained bearish after the Nifty fell below 23,000, analysts said, with derivatives positioning showing greater caution. They placed immediate support at 22,650–22,700 and resistance at 22,950–23,000.

Foreign institutional investors sold Indian equities worth more than ₹5,353 crore on Monday, their third consecutive session of net selling, provisional exchange data showed. Domestic institutional investors partly offset the outflow with net purchases of ₹5,189 crore.

Weakness extended across overseas markets. Japan’s Nikkei, Hong Kong’s Hang Seng and South Korea’s KOSPI fell by up to 1 per cent in early trade. On Monday, the S&P 500 closed 0.77 per cent lower and the Nasdaq lost 0.92 per cent.

Investors will watch whether domestic buying can cushion further selling as crude prices and global yields remain elevated.