NEW DELHI, June 23 — Indian equity markets opened on a subdued note on Tuesday, with benchmark indices slipping slightly as investors tracked cautious global sentiment.
The BSE Sensex opened at 76,953.63, down 140.44 points, or 0.18 percent, while the NSE Nifty 50 declined 34.05 points, or 0.14 percent, to 24,068.85 in early trade.
Market analysts said the broader structural outlook for domestic equities remains stable despite near-term volatility.
Rajesh Palviya, Head of Research at Axis Direct, said improved global sentiment driven by easing US-Iran tensions, softer crude oil prices, and resilience in domestic markets has supported overall momentum, though weakness in US technology stocks has capped gains.
“The Nasdaq underperformed, declining by 351.33 points, or 1.32 percent, to 26,166.60. The S&P 500 also fell 0.37 percent, while Dow Jones futures were down 0.11 percent,” he said.
He added that Asian markets traded mixed in early sessions, reflecting cautious global risk sentiment. Brent crude remained below the USD 80 per barrel mark at USD 77.67, which supports India’s macroeconomic outlook by easing inflationary pressures.
Among Asian indices, the Nikkei 225 fell 1.51 percent, while the KOSPI declined sharply. The Hang Seng Index slipped 1.20 percent, while the Straits Times Index moved against the trend, gaining 0.23 percent.
In commodities, gold prices declined 1.32 percent, while WTI crude edged lower. Brent crude also remained subdued, easing 0.29 percent.
On the technical outlook, Palviya said the Nifty has reclaimed the crucial 24,100 level and maintains a positive near-term bias as long as it holds above the 24,000 support zone.
He said immediate resistance is placed in the 24,150–24,200 range, and a decisive breakout above this level could trigger fresh short covering and push the index toward 24,400.
On the downside, a break below 24,000 could weaken momentum and drag the index toward the 23,900–23,800 range. Overall, he said the strategy remains to “buy on dips while the Nifty holds above 24,000.”
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