Indian Equities Open Subdued Amid Weak Global Cues

India's domestic equity markets opened on Tuesday in a subdued mood due to weak global cues and higher crude oil prices.

The benchmarks, Sensex and Nifty, slipped by about 0.2 per cent each, with Sensex opening at 72,633.68, down 138.04 points or 0.19 per cent, while Nifty fell 47.80 points, or 0.21 per cent, to open at 22,732.45.

Sector-wise, indices such as Nifty Auto, Nifty Media, Nifty FMCG and Nifty Cement declined up to 0.64 per cent in morning trade, while consumer durables, metal and chemicals indices also traded lower.

However, pharmaceuticals and healthcare stocks showed some resilience with Nifty Pharma and Nifty 500 Healthcare gaining up to nearly 1 per cent.

Analysts attributed the unfavourable global macro backdrop to elevated crude prices and higher US bond yields, which added to concerns.

Despite this, attractive valuations among large-cap growth stocks could provide buying opportunities for long-term investors, according to experts.