Sensex, Nifty Open Lower as Infosys and Zomato Lead Market Drag

Mumbai: Indian stock markets opened on a negative note Tuesday as heavyweight stocks like Infosys, Eternal (Zomato) and Kotak Mahindra Bank pulled down the indices.

By 9:25 a.m., the BSE Sensex had declined 444 points or 0.54% to 81,985, while the NSE Nifty slipped 105 points or 0.42% to 24,817.

Key Support and Resistance Levels for Nifty

According to market analysts:

• Immediate support levels for Nifty: 24,800, 24,700, and 24,500
• Resistance levels to watch: 25,000, 25,100, and 25,200

These levels will be closely monitored by traders, especially amid ongoing global and domestic uncertainties.

Top Gainers and Losers in Sensex

Top Gainers:

• Sun Pharma
• IndusInd Bank
• Tech Mahindra
• Bajaj Finance
• Maruti Suzuki
• Titan
• HUL
• Axis Bank

Top Losers:

• Infosys
• Eternal (Zomato)
• Tata Steel
• HCL Tech
• Power Grid
• UltraTech Cement
• Asian Paints
• ITC
• NTPC
• HDFC Bank

Sectoral Performance: Mixed Trends

The markets showed sectoral divergence:

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• Major Sectoral Losers:
  • Auto
  • IT
  • Financial Services
  • FMCG
  • Metals
  • Realty
  • Media
• Sectoral Gainers:
  • PSU Banks
  • Pharma
  • Realty
  • PSE (Public Sector Enterprises)

Midcap and Smallcap Stocks Show Resilience

Despite the broader indices slipping, buying was observed in midcap and smallcap segments:

• Nifty Midcap 100: Up 20 points at 55,437
• Nifty Smallcap 100: Up 38 points at 16,805

Market experts expect continued buyer interest in these segments at lower levels.

Global Market Sentiment Boosts Outlook

• Asian Markets: Mostly positive
  • Tokyo, Bangkok, Seoul, Shanghai trading in green
  • Hong Kong in the red
• US Markets: Strong close on Monday
  • Dow Jones: +2.81%
  • Nasdaq: +4.35%
  • Investors cheered de-escalation in U.S.-China trade tensions

Institutional Activity: FIIs and DIIs Continue to Buy

• FIIs bought ₹1,246 crore worth of equities on May 13
• DIIs purchased equities worth ₹1,488 crore on the same day

Strong domestic and foreign participation is helping absorb dips and stabilize market breadth.

Expert View: Caution Advised Amid Volatility

Hardik Matalia, Derivative Analyst at Choice Broking, advised:

“Given the current market dynamics, traders should focus on disciplined short-term trading and enforce tight risk management. Large overnight positions should be avoided in the face of global uncertainties.”