Markets opened in the red as Sensex sheds lost 144 points to drop below 58,000 while Nifty was down 0.24 per cent to start the day at 17,199 points. Rupee didn’t bounce back and open at 82.33 against the US dollar, after closing at 82.32 on Monday. Indices remained subdued because of weak global cues.
As Adani Ports, Wipro and HCL Tech led the gainers, insurers SBI Life and HDFC Life along with Bajaj Auto lost the most. With this IT stocks performed well, while the auto sector slowed down.
Oil prices were down due to concerns over weaker demand caused by covid restrictions returning to China, as Brent Crude dropped by 27 cents. Japan's Nikkei stock index also saw a steep decline, as tech stocks performed the worst.
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