Sensex: Weak Asian signals cause the Nifty to decline in early trading

Sensex: Following unfavorable signals from Asian markets, Indian equities benchmark indexes had a poor start to Tuesday’s trading session.

In the first transaction, early selling pressure caused the Sensex and Nifty to decline.

At roughly 85,025, the Sensex started over 200 points lower, and in the first few minutes, it fell even further, trading around 300 points lower.

Pressure also affected the Nifty, which was down 95 points, or 0.4%, at around 25,935.

The market’s hesitation is reflected in the index’s continued trading inside a consolidation range of 25,900–26,100.

According to analysts, “26,150–26,200 is immediate resistance, with a clear breakout possibly opening the way toward 26,300.”

“Key supports on the downside are seen at 25,900 and 25,850 in the near term,” they said.

With an almost 3% decline, Eternal was the largest loser among the Sensex 30 firms.

Among the biggest laggards in early trading were Titan, Infosys, HCL Technologies, and Axis Bank.

Bharti Airtel, on the other hand, supported the market somewhat by increasing by more than 1%.

Broader markets also saw selling pressure, thus the decline was not exclusive to frontline indexes.

Both the BSE SmallCap and MidCap indexes saw declines of around 0.4%. Financial and metal equities were down during the morning session on the sectoral front.

Similar to Wall Street’s overnight fall, Asian markets were mostly down. As funds continued to shift away from US equities tied to artificial intelligence, investor sentiment remained cautious.

South Korea’s Kospi continued to lose for the second consecutive session, down 0.75 percent, while Japan’s Nikkei 225 sank 1.27 percent. On the other hand, Australia’s S&P/ASX 200 was essentially flat.

Monday’s investor activity revealed a range of patterns. While domestic institutional investors went in as buyers and bought stocks worth Rs 1,734.91 crore, foreign institutional investors sold shares worth Rs 1,427.57 crore.