Market Opening: SENSEX slips 274 points, NIFTY50 at 25,211 on global cues, Tata Motors top loser; VIX soars 10%

Indian equity benchmark indices opened on a weak note on Monday, October 13, mirroring losses across Asian markets, as declines in IT, metal and consumer durables stocks dragged the indices lower.

The broader market also slipped in the early session, with Nifty Midcap 100 and Nifty Smallcap 100 declining 0.15% and 0.32%, respectively.

All sectoral indices were trading in the red, with Nifty Oil & Gas (-0.77%) leading the losses, followed by Nifty Metal (-0.69%), Nifty Consumer Durables (-0.56%), Nifty IT (-0.46%), and Nifty Realty (-0.32%).

According to exchange data, on Friday, the foreign institutional investors (FIIs) bought equities worth ₹459.20 crore on a net basis, while the domestic institutional investors (DIIs) purchased ₹1,707.83 crore worth of equities.

Globally, all the indices in Asia were trading lower on Monday amid renewed fears of a trade war between the US and China, after President Donald Trump threatened to impose fresh triple-digit tariffs on Chinese imports.

South Korea's KOSPI fell 1.5%, Hong Kong's Hang Seng dropped 3.34%, Taiwan Weighted declined 1.64%, and Singapore's Straits Times fell 1.08%. Japan’s Nikkei and Shanghai Composite also dropped 1.02% and 1.3%, respectively.

On Wall Street, the main US benchmarks ended sharply lower on Friday after Trump's new tariff threat. The S&P 500 dropped 2.71%, the tech-heavy Nasdaq tumbled 3.56%, and the Dow Jones fell 1.9%.

As many as 2,670 stocks traded on the NSE during the early session, among which 799 were trading in the green, 1,762 were trading in the red, and 109 shares remained unchanged.

This indicates that the market's breadth was favourable to declines.

Meanwhile, 52 stocks hit their one-year highs in the early trade, while 40 stocks touched their 52-week lows.

Further, 43 stocks also hit their lower circuits, while 30 stocks hit their upper circuits.

India VIX, the volatility gauge, zoomed 9.94% at 11.11 levels.

On the flip side, InterGlobe Aviation (1.22%), Bajaj Auto (0.84%), Bharti Airtel (0.80%), Max Healthcare (0.67%) and Asian Paints (0.63%) were among top gainers on the 50-share index.