Mumbai: The Indian equity markets opened the week lower on Tuesday amid persistent FII selling and mixed December quarter results.
As of 9.25 am, Sensex dipped 436 points, or 0.54 per cent, to reach 81,101, and Nifty declined 110 points, or 0.44 per cent to 24,938.
India and the European Union are set to announce the conclusion of negotiations on a Free Trade Agreement (FTA) at the India–EU Summit on Tuesday, that could boost the market sentiment later, especially in pharma, textiles, and chemicals sectors, analysts said.
Main broad-cap indices performed in line with the benchmark indices, as the Nifty Midcap 100 lost 0.53 per cent, and the Nifty Smallcap 100 eased 0.57 per cent.
All sectoral indices were trading in the red except metal and PSU bank. Nifty auto, realty and media were the largest losers, down 1.90 per cent, 2.15 per cent and 1.28 per cent, respectively.
Immediate support lies at 25,000 zone, while resistance is now anchored near 25,250–25,300 zone, market watchers said.
Meanwhile, the United States has indicated there may be a path to easing the 25 per cent tariff on India, imposed earlier over purchases of Russian oil, even as the levy remains in place for now.
China’s industrial profits surged 0.6 per cent in CY25 from the prior year, breaking the trend of decline for consecutive three years, as manufacturing output expanded despite weak domestic demand.
In Asian markets, China’s Shanghai index advanced 0.03 per cent, and Shenzhen eased 0.38 per cent, Japan’s Nikkei added 0.4 per cent, while Hong Kong’s Hang Seng Index gained 1.17 per cent. South Korea’s Kospi added 1.81 per cent.
The US markets ended in the green in the last trading session as Nasdaq advanced 0.43 per cent. The S&P 500 gained 0.5 per cent, and the Dow added 0.64 per cent.
Investors look for cues from over 200 quarterly corporate results to be reported in the week, and from the Union Budget scheduled to be tabled on Sunday (February 1).
On January 20, foreign institutional investors (FIIs) sold net equities worth Rs 4,113 crore, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 4,103 crore.
(IANS)
