Indian shares opened Tuesday’s session on the back foot, with technology stocks leading losses as investors grew cautious ahead of June-quarter earnings results.
The BSE 30-share Sensex dropped 168 points, or 0.2 percent, to trade at 76,560 in early trade, reflecting broad market unease.
The wider NSE Nifty index also declined, slipping 49 points, or 0.2 percent, to 23,897 as selling pressure mounted across multiple sectors.
IT heavyweights bore the brunt of the selloff, with Tech Mahindra, HCL Technologies, TCS and Infosys each falling between 1 and 2 percent on earnings-related anxieties.
Investors are closely watching quarterly results from major technology firms, as the sector’s performance will set the tone for broader market sentiment in the weeks ahead.
Adding to the cautious mood, markets were keeping a close eye on the next round of U.S.-Iran negotiations scheduled to take place in Doha on Tuesday.
Traders fear any escalation or disruption to shipping through the Strait of Hormuz could reignite concerns over energy supplies, inflation and the outlook for interest rates.
HDFC Bank fell around 1 percent after the lender appointed former Finance Secretary Rajiv Kumar as its part-time chairman for a four-year term.
Bajaj Auto also lost 1 percent following the company’s announcement outlining its key business priorities for the current financial year FY27.
Yes Bank slipped approximately 1 percent after its board approved a proposal to raise up to Rs. 16,000 crore through a mix of equity and debt issuances.
SIS tumbled 3.4 percent after its board gave the green light to a share buyback worth up to Rs. 120 crore, marking the company’s fifth such buyback since its listing in August 2017.
Not all stocks were under pressure, however, as Sterling and Wilson Renewable Energy bucked the trend with a 2 percent rally after securing a major international contract.
The company won a $560 million solar project order in Egypt, secured through a joint venture with Hassan Allam Construction, boosting investor confidence in its growth pipeline.
The broader market mood remains fragile as participants juggle geopolitical risks, upcoming corporate earnings and the potential impact of energy price volatility on monetary policy decisions globally.
