Indian benchmark indices opened lower amid weak global cues. At 09:22 hours, the 30-share BSE index was trading 389.5 points or 0.67 per cent lower at 57,893.92, and the broader NSE Nifty was down 97.40 points or 0.56 per cent to 17,270.85.
Bajaj Finance was the top loser in the Sensex pack, declining over 2 per cent, followed by HDFC, Kotak Mahindra Bank, IndusInd Bank, M&M and HCL Tech.
On the other hand, Power Grid and Dr Reddy’s were the top gainers.
Benchmark indices tumbled on Monday, weighed by losses in index majors Reliance Industries, HDFC and Bajaj Finance amid a mixed trend in global markets.
Sensex slumped 503.25 points to end at 58,283 and Nifty fell 143.05 points to 17,368.25.
V K Vijayakumar, Chief investment Strategist at Geojit Financial Services said, “The sharp rise in Omicron cases in the UK is a concern for global markets. Meetings of the US Fed, ECB, Bank of England and Bank of Japan this week will give cues on the medium term trajectory of interest rates, bond yields and markets.”
In India, the relentless selling by FPIs (Rs 33,799 crore in November and Rs 17,644 crore up to December 10) has been the major headwind for the market, particularly for banking stocks, he added.