SENSEX slides 200 points, NIFTY50 opens at 24,004 on May 26; IndiGo, SBI Life, among other top losers

At 9:15 am, the NIFTY50 index opened 0.11% or 27 points lower at 24,004.10 points, compared with 24,031.70 points at the previous stock market close, according to NSE data.

While the BSE SENSEX index opened 0.34% or 264 points lower at 76,224.14 points, compared to 76,488.96 points at the previous market close, as per the exchange data, amid the cautious market sentiment.

After a subdued opening, the stock indices reversed their trend, gaining in the early market session. As of 9:41 am, the NIFTY50 index was trading 0.11% higher at 24,057.40 points, and the BSE SENSEX was trading 0.09% higher at 76,561.74 points on Tuesday.

Factors impacting stock market today

Investors in the Asian markets were in a profit-booking stage after the massive rally on Monday over the shift in geopolitical tensions and the renewed hopes of a peace deal between the United States and Iran.

Latest media reports of fresh ‘self defence’ attacks conducted by the United States on the Iranian military sites and boats have raised concerns in the market of any further escalation of the conflict amid a fragile ceasefire deal.

All eyes were closely monitoring the negotiation developments between the two countries, and the market expects a peace deal by the end of this week, which marks the 13th week of the war since February 28.

On the investment flows front, the foreign investors became net buyers on Monday’s market, purchasing ₹821.75 crore worth of assets across the exchanges, snapping their selling streak amid the wider market momentum.

Domestic investors also bought ₹3,856.88 crore worth of assets as of Monday’s trading session.

Despite the tensions related to potential escalations, the oil prices were trading lower due to the continued positive sentiment. At 9:17 am (IST), Brent crude oil prices were trading 1.73% higher at $95 per bbl on Tuesday, compared to $93.42 per bbl at the previous market close.

Top gainers & losers today

Stocks like Tata Consumer Products, Max Healthcare, SBI Life Insurance, Bharti Airtel, Titan, IndiGo and Sun Pharma were among the top losers on Tuesday’s trading session, according to NSE data.

Tata Consumer Products was down 0.7%, Max Healthcare down 0.7%, SBI Life Insurance down 0.6%, Bharti Airtel was down 0.5%, Titan down 0.5%, IndiGo down 0.5%, and Sun Pharma lost 0.5% in the early market session.

Other stocks, such as Eternal was up 1.8%, Hindalco was up 1.3%, Coal India was up 1.3%, ONGC was up 1.3%, Infosys was up 0.9%, State Bank of India up 0.8%, ICICI Bank up 0.7%, and Maruti Suzuki India was up 0.5%, were among other gainers, as of the early market hours on Tuesday, May 26.