The Indian stock market opened lower on Tuesday. The key benchmark is trading lower after disappointing macroeconomic data and weak trend in Asian markets. India's retail inflation hit a two-year high of 6.07% in July and the country's merchandise exports contracted 6.84% from a year earlier in the month, after a marginal rise in June.
The stock market remained closed yesterday on account of Independence Day.
The BSE Sensex opened 37.64 points up at 28,190.04, while NSE Nifty opened 1.90 points down at 8,670.25.
At 12:17 PM, the S&P BSE Sensex is trading at 27,972 down 181 points, while NSE Nifty is trading at 8,610 down 62 points.
The BSE Mid-cap Index is trading up 0.15% at 12,773 whereas BSE Small-cap Index is trading down 0.24% at 12,184.
Adani Ports, Cipla, Power Grid, NTPC, L&T, ITC and Tata Steel are among the gainers, whereas Tata Motors, HDFC, Bharti Airtel, Infosys and Sun Phrama are losing sheen on BSE.
Some buying activity is seen in oil & gas, metal, utilities, basic materials and power sectors, while telecom, IT, consumer durables, realty,auto and banking showing weakness on BSE.
The INDIA VIX is up 6.17% at 14.6200. Out of 1,822 stocks traded on the NSE, 690 declined, 746 advanced and 386 remained unchanged today.
A total of 44 stocks registered a fresh 52-week high in trades today, while 30 stocks touched a new 52-week low on the NSE.
The Independence Day celebrations saw Prime Minister Narendra Modi reiterate his point that things are getting better in India and called for moving from Swarajya to Surajya, which means good governance.
The global cues are supportive for a firm opening with US indices closing at record highs after crude prices moved higher again.
Asian markets are also doing fine. As if the result woes were not enough, Infosys could be at the receiving end again after reports that it lost a US$200 million order from Royal Bank of Scotland; major layoffs are also anticipated. OMCs will be in focus are petrol price was cut by Re 1 a litre while diesel prices cooled by Rs.2 per litre on Monday.
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