A day after posting gains, the Indian Stock Market on Tuesday opened lower with Indian Rupee falling at record low. At open, Sensex was down 320.20 points
or 0.41 percent at 76,949.20, while Nifty was down 98.30 points or 0.41 percent at 24,021.00. On the gaining side were Shriram Finance, Bajaj Finance, HDFC Bank, Maruti Suzuki, Asian Paints while losers were ONGC, Adani Ports, Max Healthcare, ITC, Hindalco. The rupee closed at a record low of 95.09 against the US dollar falling 18 paise from the previous close. GIFT Nifty was up just 37 points or 0.15 percent at 24,082 in early trade as global cues remain mixed. Brent crude was $113.85 per barrel, down about 0.5 percent, after surging sharply in the previous session amid renewed tensions in the Strait of Hormuz. US WTI crude fell 1.3 percent to $105.03. Among the international markets, Asian markets traded lower. MSCI’s broadest index of Asia-Pacific shares outside Japan down 0.3 percent, Australian equities slipped 0.4 percent in thin trade. US futures also pointed to a subdued start, with S&P 500 and Nasdaq futures down around 0.1 percent each.
What experts say?
Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited said, "The sentimental boost provided by the BJP’s electoral victory in W Bengal will not last. The market trend will be guided by the developments in West Asia particularly in the Strait of Hormuz. The resumption of hostilities in the Hormuz region and Brent crude again spiking to around $113 are headwinds for the market. Also the US-10-year bond yield rising to 4.44% and rupee sliding to 95.23 level are unfavourable from the FPI flows perspective. Yesterday’s cash market buy by the FIIs is unlikely to be the beginning of a trend. In the near-term the market will respond to Q4 results and management commentary."
Aakash Shah, Technical Research Analyst at Choice Equity Broking Private Limited said, “Indian equity markets are expected to open on a flat to mildly positive note, tracking GIFT Nifty at 24,082, up by 37 points, as sentiment remains cautious and Gift Nifty hold steady, amid ongoing developments in the Middle East and movement in crude oil prices."
"FIIs were net buyers of approximately ₹2,835 crore, while DIIs remained strong buyers with inflows of around ₹4,764 crore on 04th May 2026, indicating continued support from domestic institutions along with selective foreign participation. India VIX remained elevated but stable around 18.3, suggesting a cautious market environment with the possibility of intraday volatility," Shah said.
