Indian benchmark equity indices opened in the red on Tuesday, weighed down by losses in IT stocks following a revival in artificial intelligence (AI)-linked stocks in the US.
As of 9:30 am, the BSE Sensex was down 159 points, or 0.19 per cent, at 85,407, while the NSE Nifty slipped 32 points, or 0.13 per cent, to 26,139.
Broader markets showed mixed trends. The Nifty Midcap 100 declined 0.18 per cent, while the Nifty Smallcap 100 edged up 0.07 per cent.
Among Nifty stocks, ONGC, Tata Steel and NTPC were the top gainers, whereas Max Healthcare, TCS, Tech Mahindra, Asian Paints and ICICI Bank were among the major losers.
Sectoral indices on the NSE were trading mixed, with the IT index leading the losses, down 1.21 per cent. Oil and gas and metal stocks outperformed, rising about 0.43 per cent and 0.41 per cent, respectively.
Across Asia, equity markets traded mostly higher after AI-related buying lifted major Wall Street indices overnight. China’s Shanghai Composite rose 0.34 per cent and Shenzhen gained 0.65 per cent. Japan’s Nikkei edged up 0.02 per cent, Hong Kong’s Hang Seng advanced 0.33 per cent, and South Korea’s Kospi climbed 0.45 per cent.
US markets ended largely in positive territory on Monday. The Nasdaq rose 0.52 per cent, the S&P 500 gained 0.64 per cent, and the Dow Jones Industrial Average advanced 0.47 per cent.
On Monday, foreign institutional investors sold equities worth ₹516 crore, while domestic institutional investors were net buyers to the tune of ₹3,898 crore.
(IANS)
