Indian Markets Open Lower: Nifty Faces Pressure Amid Global Cues

Indian equity benchmarks opened Tuesday’s session under pressure, with the Sensex declining 0.13% and the Nifty 50 dropping 0.27% amidst weak global cues. Geopolitical tensions, fueled by new US sanctions on Iran, intensified selling pressure across markets.

• Sensex: 77269.43, down 99.68 points (0.13%)
• Nifty 50: 24154.15, down 0.27%
• FII Inflows (August 24): Rs 1,181.66 crore

The market decline was uneven, with the Nifty experiencing higher selling pressure compared to the Sensex, indicating a divergence in index performance. However, foreign institutional investor inflows helped cap the downside, with FIIs turning net buyers on August 24, purchasing equities worth Rs 1,181.66 crore.

Global Headwinds and Sectoral Impact

Globally, most Asian markets traded lower following President Donald Trump’s administration warning countries to sever business ties with Iran or face secondary sanctions. This directive was branded an ‘economic D-Day’ by the US.

On the domestic front, the IT sector faced significant pressure after reports emerged of the US Department of Homeland Security (DHS) proposing a $103,265 fee on H-1B cap-subject petitions. This proposed charge would be in addition to existing H-1B fees, as outlined in a notice of proposed rulemaking issued by DHS.

Index and Sectoral Performance Breakdown

The BSE Sensex traded within a range of 77146.03 and 77390.72, with 10 stocks advancing against 20 stocks declining on the index. Selling pressure was observed across nearly all sector indices, except for Telecom and Bankex.

• Telecom: up 0.96%
• Bankex: up 0.13%

Conversely, several key sectors posted losses on the BSE:

• IT: down 0.63%
• Metal: down 0.41%
• Power: down 0.27%
• Basic Materials: down 0.20%
• TECK: down 0.20%

Top Movers on Sensex

Among the Sensex constituents, Trent led the gains, followed by Adani Ports & SEZ and Bharat Electronics:

• Trent: up 0.52%
• Adani Ports & SEZ: up 0.35%
• Bharat Electronics: up 0.32%
• Eternal: up 0.20%
• Titan Company: up 0.16%

The top losers on the index included IT heavyweights HCL Technologies and Tech Mahindra, alongside other significant names:

• HCL Technologies: down 1.07%
• Tech Mahindra: down 0.73%
• Maruti Suzuki India: down 0.63%
• Bajaj Finance: down 0.60%
• NTPC: down 0.57%

Separately, the Commerce Ministry announced that India and Cambodia concluded negotiations for a bilateral investment treaty (BIT). Both nations agreed to sign the treaty promptly and discussed bolstering cooperation in sectors including agriculture, dyes, pigments, banking, and insurance during the Joint Working Group meeting in Phnom Penh, Cambodia.