The two key equity benchmarks, Sensex and Nifty, on Tuesday were oscillating between gains and losses tracking high volatility amid unstable global sentiment.
At 10 am, the S&P BSE Sensex was up 122 points to 58,359. On the other hand, the NSE Nifty50 was trading at 17,183, up 29 points.
On the 30-share Sensex platform, Titan, Tata Steel, L&T, Airtel, HUL, HDFC Bank were trading in the green. On the other hand, TechM, M&M, Bajaj Finance, HCL, Asian Paints, Kotak Bank slipped into the red in early trade.
Among individual stocks, shares of Krsnaa Diagnostics surged over 4 per cent after it operationalised 100 more Pathology Collection Centers. Besides, shares of Lupin gained over 1 per cent after USFDA completed inspection of Bioresearch Centre in Pune, without any observations.
In the broader markets, Nifty Smallcap 100 and Nifty Midcap 100 indices slipped up to 0.3 per cent.
Volatility index, India VIX, meanwhile, slipped over 3 per cent.
Sectorwise, Nifty IT, and Nifty Pharma gained fractionally higher in trade, whereas the rest remained bogged down.
In the previous session on Monday, the BSE Sensex ended at 58,237, down 897 points. On the other hand, the NSE Nifty closed trade at 17,154, down 259 points.
Most Asian markets were trading lower on Tuesday as investors continued to grapple with the fallout of bank failures in the US. Silicon Valley Bank and Signature Bank have collapsed, sparking concerns of a financial contagion amid central banks hiking rates to tame inflation.
In a pre-market note, Deepak Jasani, Head of Retail Research at HDFC securities, said Indian markets could open flat to marginally up, despite mostly negative Asian markets today and largely lower US markets on Monday.
On Monday, European market and most US stocks closed in the red.
Foreign Institutional Investors (FIIs) were net sellers on Monday, offloading domestic equities worth Rs 1,546.86 crore, according to exchange data.
Global oil benchmark Brent crude futures fell 1.08 per cent to $79.90 per barrel.
Meanwhile, the rupee depreciated by 12 paise to 82.35 against the US dollar in early trade on Tuesday, amid stronger dollar and foreign fund outflow from the domestic equity market.
At the interbank foreign exchange, the domestic unit opened lower at 82.27 against the dollar and rose to 82.24 before slipping to 82.35. On Monday, the rupee settled at 82.23 against the US dollar.