MUMBAI, JUN 2 : Benchmark equity indices Sensex and Nifty opened lower on Tuesday as investor sentiment remained subdued amid ongoing tensions between the United States and Iran and continued foreign fund outflows.
The 30-share BSE Sensex fell 296.19 points to 73,971.30 in early trade, while the NSE Nifty declined 103.30 points to 23,272.25.
Among the Sensex constituents, Bajaj Finance, Eternal, Bajaj Finserv, Power Grid, Larsen & Toubro and NTPC emerged as the top losers. On the other hand, Infosys, Tata Consultancy Services, Tech Mahindra, HCL Technologies, Asian Paints and Mahindra & Mahindra traded in the green.
Across Asia, South Korea’s Kospi, Japan’s Nikkei 225 and China’s Shanghai Composite were trading lower, while Hong Kong’s Hang Seng index posted gains. U.S. markets ended higher on Monday.
Market experts attributed the weakness to lingering geopolitical uncertainty in the Middle East. Ponmudi R., CEO of Enrich Money, said the unresolved US-Iran situation and repeated setbacks in diplomatic efforts have kept global risk appetite under pressure, prompting investors to adopt a cautious approach amid concerns over regional stability and energy markets.
Meanwhile, Foreign Institutional Investors (FIIs) sold equities worth ₹3,911.68 crore on Monday, according to exchange data, adding to pressure on domestic markets.
Brent crude, the global oil benchmark, slipped 0.73 per cent to $94.29 per barrel.
V.K. Vijayakumar, Chief Investment Strategist at Geojit Investments Ltd, said trends such as strong AI-driven gains in global markets, sustained foreign portfolio investor selling in India and the relative underperformance of Indian equities continue without any immediate signs of reversal.
On Monday, the Sensex had dropped 508.40 points, or 0.68 per cent, to settle at 74,267.34, while the Nifty declined 165.15 points, or 0.70 per cent, to close at 23,382.60, marking its fourth straight day of losses.
