Benchmark stock market indices opened lower on Tuesday as investors remained cautious, tracking weakness in Asian peers.
The S&P BSE Sensex was trading 246.21 points lower at 62,922.09 at around 9:43 am, while the NSE Nifty 50 fell 64.90 points to 18,690.55.
Broader market indices also reflected the weak sentiments on Dalal Street after outperforming the benchmarks over the past few trading sessions.
Ameya Ranadive, a research analyst at Choice, said, “Looking ahead, the levels of 18,700-18,650 are anticipated to play a crucial role as support for the index. On the other hand, a sustained close above 18,850 for a few consecutive days has the potential to trigger renewed buying interest in the index.”
Among sectoral indices, Nifty Metal and Nifty Consumer Durables were the only gainers, while most of the others were trading in negative territory as volatility spiked.
The top five gainers on the Nifty 50 were HDFC Life, SBI Life, PowerGrid, Tech Mahindra and Dr Reddy’s Laboratories. On the other hand, the biggest laggards were Bajaj Finance, Mahindra and Mahindra, Bajaj Finserv, HUL and Asian Paints.
