Markets Trade Lower On Weak Global Cues; Nifty Drags Below 15,800

In line with weak global cues, Indian indices started on a sluggish note. Sensex at 9:16 am traded lower by 60 points at 52800, while Nifty was down by 16 points at 15,802. In the previous day's trade, Sensex hit a fresh record high of 53,129.37. Nifty Midcap 100 however traded better.

Among Nifty sectoral indices, all of the indices barring IT and Realty traded in the red. The top laggards included private bank and auto stocks.

NMDC shares shall be in focus after the company's Offer for sale will open for retail investor category . The floor price for the issue has been fixed at Rs. 165 per share.

Titan in its business update said the company's jewellery business grew by 107 percent YoY as there were zero sales in the April month of last year due to nationwide lockdown enforced from late March.

Oil prices fell in trade on Tuesday after OPEC+ failed to reached to a deal on production supply. Brent crude settled lower by 3.4 per cent to $74.53.

Meanwhile, Asian markets at the time of writing this copy were weak with maximum drop on Straits Times of over 1 percent, followed by Japanese Nikkei.

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