In intraday trading, the Sensex is trading lower at 81,133.05, down 502.86 points or 0.62%, while the Nifty is also in the red at 24,807.30, down 160.45 points or 0.64%.
Indian equity indices opened Tuesday’s trading session on a lower note. The NSE Nifty 50 opened 0.29% lower at 24,896. The BSE Sensex opened 269 points lower at 81,367.
Similarly, Bank Nifty opened 172 points or 0.31% lower at 54,968. In line with the benchmarks, the small and midcap stocks opened the day lower. The Nifty Midcap fell 170 points to 57,532.
“Inability to close above 25,000/25,033 region yesterday suggests that buyers are not keen on chasing prices higher. This leaves room for dips. Upswing possibility could diminish if Nifty slips below 24,870, but it would require a direct fall below 24,740 to initiate downside plays,” said Anand James, Chief Market Strategist at Geojit Investments.
“We believe the intraday market pattern is directionless; hence, level-based trading would be an ideal strategy for day traders. For the bulls, the level of 25,000 will be the immediate breakout point. A successful breakout above 25,000 can push the market towards 25,150-25,200,” said Shrikant Chouhan, Head of Equity Research at Kotak Securities.
Let’s take a look at the key factors to watch out for today’s trading session
Early gainers and laggards
In early trade, among the Nifty 50, top gainers at this hour were Nestle India, Eicher Motors, Bajaj Auto, Hero MotoCorp, and Titan. On the flip side, the key laggards in the Nifty 50 pack included Sun Pharma, Tata Steel, Dr Reddy’s Lab, Adani Ports and SEZ, and Hindalco.
Major movers on Tuesday
The stocks that remained under pressure included HDFC Bank, ICICI Bank, Bharti Airtel, Sun Pharma, and Reliance Industries, which were the major movers in the morning trade.
Trump tariffs and policy moves
U.S. President Donald Trump dismissed Federal Reserve Governor Lisa Cook, an unusual step that adds strain between the White House and the central bank. On trade, the U.S. and South Korea are working on a framework that involves 15% tariffs on Korean exports, while Trump has also indicated the possibility of imposing tariffs of up to 200% on rare-earth magnets from China.