Sensex, Nifty open lower as US-Iran talks uncertainty weighs on sentiment

Indian benchmark equity indices opened lower on Tuesday as investor sentiment remained subdued amid uncertainty surrounding the next round of US-Iran negotiations in Doha, while continued foreign fund outflows and weakness in information technology stocks added to the pressure.

The BSE Sensex fell 103.95 points to 76,624.42 in early trade after briefly opening in positive territory. The NSE Nifty also slipped 40.10 points to 23,908.80.

Selling was led by heavyweight IT stocks, with Infosys, Tata Consultancy Services and HCL Technologies among the biggest losers. Other notable decliners included Tata Steel, Hindustan Unilever and Eternal.

On the other hand, buying interest was seen in Maruti Suzuki India, Axis Bank, Power Grid Corporation of India and Bharti Airtel.

Market sentiment was also affected by continued foreign selling, with foreign institutional investors (FIIs) offloading equities worth Rs 1,350.10 crore on Monday, according to exchange data.

Meanwhile, Brent crude, the global oil benchmark, eased 0.56 per cent to USD 72.74 a barrel.

According to market experts, investors remain cautious ahead of the next round of US-Iran negotiations in Doha, with hopes that diplomatic progress could ease tensions in West Asia and reduce uncertainty in global markets.

Elsewhere in Asia, markets in Japan, South Korea and mainland China traded higher, while Hong Kong declined. US equities ended Monday's session on a strong note, with the Nasdaq Composite gaining 2.07 per cent and the S&P 500 rising 1.18 per cent.

The domestic market had ended lower on Monday, with the Sensex shedding 372.10 points to close at 76,728.37 and the Nifty falling 109.75 points to settle at 23,946.25.

With PTI inputs