Sensex, Nifty Slip as US-Iran Talks Weigh on Sentiment

Indian benchmark indices opened lower Tuesday as traders weighed the next round of US-Iran negotiations in Doha and a fresh wave of foreign fund outflows.

The BSE Sensex fell 103.95 points to 76,624.42 in early trade, paring opening gains. The NSE Nifty dropped 40.10 points to 23,908.80.

Infosys, Tata Consultancy Services, Tata Steel, HCL Tech, Hindustan Unilever and Eternal led the declines on the Sensex. Maruti, Axis Bank, Power Grid and Bharti Airtel posted gains.

Foreign institutional investors sold equities worth Rs 1,350.10 crore on Monday, exchange data showed.

Brent crude traded 0.56% lower at $72.74 a barrel.

"Indian equity markets are expected to trade with a cautious bias as investors closely monitor renewed geopolitical tensions ahead of the next round of US-Iran negotiations," said Ponmudi R, CEO of Enrich Money, an online trading and wealth-tech firm. "Investor attention is now firmly focused on the upcoming negotiations in Doha, with hopes that diplomatic progress will help ease regional tensions."

Asian markets were mixed. South Korea's Kospi, Japan's Nikkei 225 and Shanghai's SSE Composite rose. Hong Kong's Hang Seng fell.

US markets ended higher Monday. The Nasdaq Composite surged 2.07%. The S&P 500 climbed 1.18%.

Infosys carries an Alpha Score of 57 out of 100, rated Moderate, in the Technology sector. Unilever scores the same 57, also Moderate, in Consumer Staples.