Indian stock markets slip at open despite Asian rally as investor caution prevails

Indian equity benchmarks opened lower on Tuesday even as Asian markets rallied and Wall Street touched fresh record highs, with investors at home remaining cautious amid global uncertainty and ahead of key economic data.

The Sensex fell 155.92 points, or 0.18 per cent, to 85,283.70 in early trade, while the Nifty declined 23.50 points, or 0.09 per cent, to 26,226.80. Market breadth was mildly positive, with 1,244 stocks advancing, 945 declining, and 189 unchanged.

Among Nifty constituents, Kotak Mahindra Bank, Hindalco, Tech Mahindra, Apollo Hospitals, and Axis Bank were among the top gainers, while Trent and Reliance Industries weighed on the index.

More from India

India overtakes China to emerge as world’s largest rice producer EAM Jaishankar visits India-France textile exhibition in Paris on first day of diplomatic tour

Asian markets extended their record rally, tracking overnight gains on Wall Street after the Dow Jones Industrial Average scaled a fresh all-time high, led by strong buying in financial and energy stocks.

MSCI’s broadest index of Asia-Pacific shares rose 0.4 per cent to a record level, driven mainly by Japanese equities, with the Topix jumping 1.3 per cent to a historic peak. Hong Kong’s Hang Seng advanced 0.7 per cent, China’s CSI 300 gained 0.3 per cent, while Australia’s benchmark climbed 1 per cent.

US equities ended higher on Monday, as energy and financial stocks rallied on expectations that recent developments involving Venezuela could eventually open up investment opportunities in the country’s oil sector. The gains pushed the Dow to a new peak.

Quick Reads

View All

EAM Jaishankar visits India-France textile exhibition in Paris on first day of diplomatic tour

'All he wanted to talk about…': US senator claims Indian envoy sought tariff relief over Russian oil cuts

Oil prices eased after an initial rise, with Brent crude slipping to around $61.6 a barrel and US West Texas Intermediate hovering near $58.1, as traders assessed the potential impact on global crude supplies.

The US dollar steadied ahead of the monthly non-farm payrolls report due later this week, which is expected to influence expectations around the Federal Reserve’s monetary policy path in 2026. Gold hovered near record highs, reflecting lingering caution despite the broader risk-on tone in global equities.

Despite supportive global cues, Indian markets opened on a subdued note, underscoring investor caution amid elevated valuations and an uncertain geopolitical backdrop.