Indian benchmark indices opened lower on Tuesday, with the Sensex falling about 200 points and the Nifty trading near the 24,100 level, according to Business Standard. The Nifty IT index declined nearly 1 percent, leading the losses among sectoral indices.
The decline came as global cues turned negative, with elevated crude oil prices and escalating geopolitical tensions weighing on investor sentiment, The Hindu reported. Investing.com India noted that Indian stocks opened lower as oil prices rose while the rupee held steady against the dollar.
The Times of India reported that the BSE Sensex plunged over 100 points in early trading, with the NSE Nifty50 opening below the 24,200 mark as crude prices continued their upward march. NDTV described the market as trading flat amid the negative global backdrop.
The weakness in IT stocks was a notable feature of the session, with the sector underperforming the broader market. The combination of higher oil prices, which can pressure India's import bill and inflation outlook, and geopolitical uncertainty has made investors cautious.
Market participants are now watching whether the selling pressure intensifies through the day or if the indices find support at lower levels. The direction of crude oil prices and any fresh developments on the geopolitical front are likely to influence trading in the coming sessions, according to the reports.
