CHENNAI: Indian equity markets opened on a volatile note Tuesday, tracking mixed global cues and investor sentiment over the progress in US-China trade talks.
In the early trade, BSE Sensex at 82,349 was down 96 points or 0.12%, while Nifty 50 at 25,116, up 13 points or 0.05%,
Despite a subdued opening in the benchmark indices, broader markets outperformed. Nifty Midcap100 was up 0.18%, and NiftySmallcap100 rose 0.35%.
On the sectoral front, the top gainers were Nifty Media (+2.0%), and Nifty IT (+1.3%). While the losers included Nifty Bank (-0.23%).
The rally in media and IT stocks helped partially offset weakness in financials, indicating selective buying amid global uncertainty.
Global Backdrop
Investors are closely watching developments in US-China trade negotiations, while global markets sent mixed signals, contributing to the cautious sentiment.
IPOs:
Jainik Power and Cables IPO (SME) opens for subscription today, and Sacheerome IPO (SME) enters Day 2 of bidding.
While index moves remain range-bound, midcaps and sector-specific plays are showing resilience. Analysts recommend a stock-specific approach, especially in sectors like IT, media, and select manufacturing plays.