Indian Markets Struggle with Weak Global Cues and Higher Oil Prices

Indian equities opened weakly on Tuesday amid negative global cues and higher crude oil prices.

The Sensex fell by 138.04 points or 0.19% to open at 72,633.68, while the Nifty slipped 47.80 points or 0.21% to open at 22,732.45.

Sector-wise, Nifty Auto and Nifty Media declined up to 0.64%, followed by Nifty FMCG and Nifty Cement.

However, pharmaceuticals and healthcare stocks traded higher with Nifty Pharma and Nifty 500 Healthcare gaining up to nearly 1%.

Analysts pointed out that the global macro backdrop remains unfavorable for equities due to elevated crude prices and higher US bond yields.