Sensex, Nifty open a tad lower amid nixed global cues
The domestic benchmark indices opened lower on Tuesday amid mixed global cues, with selling seen in the auto, PSU bank, and financial services sectors during early trade.
At around 9:31 am, the Sensex was trading 40.79 points, or 0.05 percent, down at 82,018.63, while the Nifty declined by 22.10 points, or 0.09 percent, at 24,923.35.
The Nifty Bank was down by 51.40 points, or 0.09 percent, at 55,369.30. The Nifty Midcap 100 index was trading at 56,943.00, having declined by 162.45 points, or 0.28 percent. The Nifty Smallcap 100 index stood at 17,606.90, down by 42.75 points, or 0.24 percent.
According to analysts, from a technical perspective, the Nifty formed a bearish candle on the daily chart while trading within an inside bar pattern, closing just below the crucial 25,000 level.
The Indian Rupee exhibited strength, appreciating by 10 paise against the greenback to settle at 85.40.
Meanwhile, in the Sensex pack, Tata Steel, Sun Pharma, Infosys, Tech Mahindra, ITC, Adani Ports, L&T, and HCL Tech were the top gainers. Power Grid, Nestle India, Titan, Kotak Mahindra Bank, M&M, and HDFC Bank were the top losers.
In the Asian markets, China, Hong Kong, Japan, Bangkok, Seoul, and Jakarta were trading in the green.
In the last trading session, the Dow Jones in the US closed at 42,792.07, up by 137.33 points, or 0.32 percent. The S&P 500 ended with a gain of 5.22 points, or 0.09 percent, at 5,963.60, and the Nasdaq closed at 19,215.46, up by 4.36 points, or 0.02 percent.
On the institutional front, both foreign and domestic investors turned cautious, marking the first simultaneous sell-off in over a month.
According to provisional data from the NSE, foreign institutional investors (FIIs) sold Indian equities worth Rs 525.95 crore on May 19, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 237.93 crore.
