Mumbai, Oct 27: Indian benchmark indices opened lower on Tuesday, October 27, with the BSE Sensex opening at 73,484.38, down 0.16 per cent, and the Nifty 50 opening at 22,708.80, down 0.19 per cent, as information technology stocks led the sectoral declines in early trade, DSIJ reported.

Source: DSIJ

By 9:30 am both benchmarks were down nearly 0.20 per cent. The Nifty IT index fell about 1.6 per cent and the Nifty Oil and Gas index about 0.8 per cent, making them the top laggards, while the Nifty FMCG and Nifty Private Bank indices also traded lower. Broader markets held up better: the Nifty Midcap 100 gained 0.07 per cent and the Nifty Smallcap 100 advanced 1 per cent, DSIJ reported.

Source: DSIJ

The weak open followed a strong recovery on Monday, when the Sensex closed at 73,606.75, up 482.92 points or 0.66 per cent, and the Nifty 50 closed at 22,753.20, up 153.20 points or 0.68 per cent, after clawing back nearly 370 points from an intraday low of 22,387 and snapping a four-session losing streak, The Hindu BusinessLine reported.

Source: The Hindu BusinessLine

Foreign portfolio investors sold Indian equities worth Rs 1,462 crore on Monday, extending October's outflows, while elevated crude oil prices continued to cap the upside despite a rally in Asian markets and overnight gains on Wall Street, HDFC Sky reported. GIFT Nifty had signalled a weak start, trading at 22,672 at 6:54 am, 81.2 points below the Nifty's previous close.

Source: HDFC Sky

Investors are tracking a heavy day of September-quarter results, with Larsen & Toubro, Maruti Suzuki India, SBI Life Insurance, Bajaj Auto, Cipla, ACC, Concord Biotech, Honeywell Automation India and IndiaMART InterMESH among the companies due to report on Tuesday, The Hindu BusinessLine reported. Monetary policy decisions by the US Federal Reserve, the European Central Bank and the Bank of Japan are also due this week, with markets expecting all three to hold rates unchanged.

Source: The Hindu BusinessLine