Markets Open Lower: Sensex Down 200 Points, Nifty Below 24,700; Infosys Declines

Markets Open Lower Amid IT Drag, Trade Deal Uncertainty with US Weighs on Sentiment.

Benchmark indices opened marginally lower on Tuesday, pressured by a decline in IT stocks and uncertainty surrounding a potential trade deal between India and the United States. As of 9:26 am, the S&P BSE Sensex was down 62.31 points at 80,828.71, while the NSE Nifty50 slipped 7.20 points to 24,673.70.

According to Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, “There are more headwinds than tailwinds for the market at this point.” He noted that the much-anticipated trade agreement between India and the US remains elusive, with the likelihood of a deal before the August 1 deadline now appearing slim.

He added, “President Trump’s success in securing advantageous deals with Japan and the EU may prompt a tougher US stance in negotiations with India.”

Top Gainers and Losers
In early trade, Trent and Reliance Industries led the gainers, each rising 0.77%, followed by Tata Motors (+0.66%), Sun Pharma (+0.63%), and Kotak Mahindra Bank (+0.58%).

On the flip side, Eternal was the biggest loser, falling 1.64%, while Bharat Electronics dropped 0.91%, Infosys slipped 0.74%, TCS declined 0.57%, and Asian Paints was down 0.38%.

Broader Market & Sectoral Performance
Nifty Midcap100 edged up 0.17%, while Nifty Smallcap100 slipped 0.04%.

India VIX, the volatility index, rose modestly by 0.18%.

Among sectoral indices, Nifty Realty led gains with a 1.18% rise, followed by Nifty Metal (+0.47%), Oil & Gas (+0.41%), Auto (+0.30%), and Healthcare (+0.21%). Other sectors such as FMCG, Pharma, Media, PSU Bank, and Financial Services also saw modest upticks.

However, Nifty IT was the worst-performing sector, declining 0.22%, followed by Consumer Durables (-0.12%) and Private Bank (-0.08%). Vijayakumar concluded, “Sustained FII selling continues to drag sentiment, despite DII support. In this environment, a wait-and-watch approach is more prudent.”