Mumbai, June 23 (IANS) Indian equity markets opened on a flat note on Tuesday after a multi-session rally driven by easing tensions in West Asia.
Sensex opened at 77,086.05, down 8 points or 0.01 per cent, while Nifty started the session at 24,071.30, lower by 31.60 points or 0.13 per cent.
Sector-wise, Nifty Pharma was top gainer, rising 0.41 per cent, followed by Nifty MidSmall Healthcare (up 0.40 per cent), Nifty 500 Healthcare and Nifty Media, both gaining 0.29 per cent.
While Nifty Cement and Nifty Oil & Gas also advanced 0.27 per cent and 0.18 per cent, respectively.
In contrast, Nifty Metal was the worst-performing sector, declining 0.8 per cent, followed by Nifty IT, which fell 0.77 per cent.
Among Nifty 50 constituents, Infosys, Hindalco Industries, TCS, HCLTech, Tech Mahindra, Tata Steel and Wipro were the top losers in early trade.
The broader market remained resilient, with smallcap and midcap indices outperforming the benchmarks.
Nifty Smallcap 50 rose 0.34 per cent, while Nifty Smallcap 250 and Nifty Smallcap 500 gained 0.33 per cent and 0.28 per cent, respectively.
Meanwhile, India VIX — the market’s fear gauge — declined 0.7 per cent to 12.75.
According to market experts, easing tensions in West Asia and the sharp correction in Brent crude prices below $80 per barrel have improved the outlook for India’s GDP growth and corporate earnings in FY27.
They noted that stability in the rupee and a moderation in foreign portfolio investor (FPI) selling remain key positives for equities.
However, they cautioned that the progress of the monsoon will be closely watched, as a prolonged rainfall deficit could weigh on rural demand, inflation and sectors such as FMCG.
In the commodities market, international benchmark Brent crude fell 0.5 per cent to $77.51 per barrel, while US West Texas Intermediate (WTI) crude declined 0.35 per cent to $73.60 per barrel.
–IANS
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