Markets open lower as CAS correction weighs; RBI policy, earnings in focus
Sensex opened at ₹79,132.97, was trading at ₹78,774.73, up ₹135.70 or 0.17%; Nifty 50 opened at 24,703.90, was trading at 24,599.05, down 175.25 points or 0.71%
The Indian stock market opened lower on Tuesday as the correction following Monday's sharp rally weighed on investor sentiment. The Nifty 50 and Sensex both traded in the red, with the Nifty losing 175 points or 0.71 percent and the Sensex falling 135.70 points or 0.17 percent. Analysts attributed the opening weakness to the normalization of market reaction to the new Closing Auction Session mechanism that caused a technical distortion on Monday.
Despite the early weakness, the broader market outlook remained constructive, with institutional inflows bolstering the positive sentiment. Foreign Institutional Investors purchased equities worth ₹922 crore, while domestic institutional investors added ₹1,571 crore. The return of Foreign Institutional Investors to the Indian market and their sharp short-covering have triggered a rally in large-cap stocks.
Notable gainers included Adani Ports and Adani Enterprises, while Grasim Industries and Bajaj Auto were among the biggest decliners. Sectoral outperformance was seen in Nifty IT and Tourism, while Media underperformed. The upcoming Reserve Bank of India's Monetary Policy Committee decision and a heavy earnings calendar are expected to dominate market sentiment in the coming week.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
