Sensex, Nifty slip as markets open cautious amid global cues

Indian equity markets opened weaker on Tuesday as investors adopted a guarded stance amid global uncertainty and ahead of key US economic data. With limited domestic triggers to boost sentiment, early trade on Dalal Street reflected a subdued mood.

Around 9:34 am, the S&P BSE Sensex declined 136 points to 84,814.95, while the Nifty50 dropped 49.95 points to 25,963.50, signalling a soft start. Sectoral performance remained mixed, indicating cautious participation across the board.

Max Healthcare Leads Nifty50 Gainers

Among the Nifty50 constituents, Max Healthcare surged nearly 2% to emerge as the top performer in early trade. Buying interest was also visible in Bharti Airtel, Axis Bank, Eternal, Bajaj Auto and ONGC.

On the flip side, Hindalco, Bajaj Finserv, Bajaj Finance, Tata Steel and Kotak Mahindra Bank dragged the indices, registering notable declines.

Experts Cite Global Cues, Fading AI Trade, and Domestic Strength

Dr V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said the broader market is still supported by a mix of favourable domestic and international factors. He highlighted three key drivers:

• Progress on a potential US–India trade agreement

• A cooling off in the global AI trade, which could boost Indian equities

• Improving corporate fundamentals backed by strong growth and rising earnings

He noted that the recent uptick in FII buying is encouraging but not yet a confirmed trend. While the GST-led consumption lift has helped sentiment, sustaining that momentum will be crucial for markets to maintain strength.

Technical View: Volatility Calls for Selective Buying

Amruta Shinde, Technical & Derivative Analyst at Choice Broking, advised traders to remain selective amid ongoing volatility. She recommended a buy-on-dips strategy, controlled leverage, strict stop-losses and partial profit-taking.

Shinde added that fresh long positions would be justified only if Nifty sustains above 26,100, with close tracking of global signals.

Geojit's Chief Market Strategist, Anand James, said Nifty lacks clear direction as long as it remains between 26,130 on the upside and 25,840 on the downside. He expects early trading to remain rangebound, with possible dips towards 25,980–25,900 before signs of recovery. A breakout above 26,022 could propel the index toward 26,130.