Benchmarks opened in the red: Nifty ~24,818.55 (down ~0.29%) and Sensex ~80,956.01 (down ~0.25%) in early trade.
Pharma was the worst-hit sector, with ~2.3% loss, pulling down multiple indices.
Most sectors (13 of 16 majors) opened lower, indicating widespread risk aversion.
Weak global cues, uncertainty over tariff fallout, and foreign outflows weighed on sentiment.
The declines were exacerbated by fading hopes for aggressive U.S. rate cuts.
Meanwhile, analysts flagged select names like Bharti Hexacom, SBI as potential tactical buys a
mid volatility.
The trade setup suggests resistance for Nifty in 25,000–25,050 and support in 24,700–24,750 zone.
IT and export-oriented sectors are especially vulnerable in the current backdrop.
Market watchers will track tariff rules, foreign flow reversal, and U.S. economic
cues closely.
Volatility is expected to remain elevated until clarity emerges on the trade front.