Indian equity benchmarks on Tuesday traded lower in opening deals, halting a three-day winning run amid weak cues from the global markets. Asian shares slipped in early trade, tracking a volatile Wall Street session overnight.
Surge in crude oil prices following last week’s rout also dampened investor sentiment. Brent crude futures jumped $1.08, or 0.9 per cent, to $116.17 a barrel today.
Trends on the Nifty Futures on Singapore Exchange (SGX Nifty) indicated a higher start for the domestic indices.
The 30-share BSE Sensex fell 236 points or 0.44 per cent to 52,926 in early session, while the broader NSE Nifty moved 72 points or 0.45 per cent down to trade at 15,760.
Mid- and small-cap shares were trading on a weak note today as Nifty Midcap 100 tumbled 0.41 per cent and small-cap plunged 0.55 per cent.
14 out of the 15 sector gauges — compiled by the National Stock Exchange — were trading in the red. Sub-indexes Nifty Consumer Durables and Nifty Financial Services were underperforming the NSE platform by falling as much as 1.68 per cent and 0.85 per cent, respectively.
On the stock-specific front, Titan was the top Nifty loser as the stock cracked 3.06 per cent to Rs 1,977.95. Asian Paints, Bajaj Auto, Adani Ports and Bajaj Finserv were also among the laggards.
The overall market breadth was negative as 940 shares were advancing while 1,324 were declining on BSE.
On the 30-share BSE index, Titan, Asian Paints, Bajaj Finserv, Tech Mahindra, Wipro, UltraTech Cement, Nestle India, HDFC, Bajaj Finance, Infosys, Kotak Mahindra Bank and HDFC Bank were among the top losers.
Food delivery firm Zomato slid as much as 6.38 per cent to trade at Rs 61.65 following a deal to buy local grocery-delivery startup Blinkit for Rs 4,447 crore ($567.94 million).
Also, shares of Life Insurance Corporation of India (LIC), the country’s biggest insurer and largest domestic financial investor, were down 0.71 per cent to trade at Rs 659.95.
Sensex had jumped 433 points or 0.82 per cent to close at 53,161 on Monday, while Nifty had moved 133 points or 0.85 per cent up to settle at 15,832.
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