Mumbai, March 4: Indian equity markets opened lower on Tuesday, tracking negative cues from global peers, continued foreign fund outflows, and renewed concerns over US tariffs.
The 30-share BSE Sensex fell by 177.39 points, or 0.24%, trading at 72,908.55 in early deals. Meanwhile, the broader NSE Nifty dropped 59 points or 0.27%, opening at 22,060.30. During intraday trading, Nifty further dipped 144.85 points (0.65%), touching a low of 21,974.45.
Sensex Losers and Gainers
Shares of Nestle India, HCL Technologies, Tech Mahindra, Bharti Airtel, Titan, Infosys, Asian Paints, NTPC, Bajaj Finserv, and Sun Pharmaceuticals led the decline on the Sensex index.Conversely, stocks that bucked the downward trend included State Bank of India, IndusInd Bank, Zomato, Power Grid, ICICI Bank, Tata Motors, Mahindra & Mahindra, Tata Consultancy Services (TCS), and Adani Ports.
Global Markets Scenario
Asian markets exhibited mixed trends, with key indices in Tokyo and Hong Kong trading lower, while benchmarks in Shanghai and Seoul traded flat. This weak sentiment mirrored the overnight losses in the US markets, sparked by growing concerns over potential new US tariffs and economic uncertainty.Additionally, the global oil benchmark Brent crude dipped by 0.63%, settling at USD 71.17 per barrel.
Foreign Institutional Investors Continue Selling Spree
The Indian equity markets remained under pressure due to persistent selling from Foreign Institutional Investors (FIIs). As per exchange data, FIIs offloaded equities worth Rs 4,788.29 crore on Monday.Previous Session Recap
On Monday, the BSE benchmark Sensex had closed lower by 112.16 points, ending at 73,085.94. Extending losses for the ninth consecutive session, the NSE Nifty closed down by 5.40 points at 22,119.30.
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