Indian benchmark indices opened lower on Tuesday as weak global cues and caution ahead of Nvidia’s earnings kept investors on edge. Broader markets remained mixed, while select stocks gained on company-specific developments.

Indian equity markets came under pressure on Tuesday, with the benchmark Sensex falling nearly 200 points and the Nifty 50 slipping below the 24,150 mark as investors remained cautious amid weak global cues.

Market sentiment was subdued ahead of earnings from US chipmaker Nvidia, with investors closely watching whether the company's results and management commentary can sustain optimism surrounding the global artificial-intelligence investment cycle.

At 10:00 AM, the Sensex was down 176.64 points, or 0.23 per cent, at 77,192.47, while the Nifty 50 declined 80.45 points, or 0.33 per cent, to 24,138.60.

Broader Markets Remain Mixed

The broader market showed relative resilience compared with the benchmark indices, although small-cap stocks remained under pressure.

The Nifty MidCap index was up 0.02 per cent, while the Nifty SmallCap index declined 0.06 per cent around 10 AM.

Earlier in the session, the Nifty Midcap 100 index had slipped 0.05 per cent, while the Nifty Smallcap 100 index declined 0.19 per cent.

The mixed performance suggests that while investors are exercising caution at the index level, buying interest remains visible in selected mid- and small-cap counters with strong company-specific triggers.

Nifty Trades Below 24,150

The Nifty 50 opened on a weak note and subsequently remained below the 24,150 level. The index had declined around 83 points, or 0.35 per cent, shortly after the opening bell.

The weakness comes after recent market gains and reflects a cautious approach among investors as global markets digest developments surrounding technology stocks and the outlook for artificial-intelligence spending.

For traders, the 24,000 level could remain an important psychological support, while sustained recovery above the 24,150-24,200 zone could be required for sentiment to improve in the near term.

Metal and Auto Stocks Under Pressure

Sectoral performance remained uneven during the morning session.

The Nifty Metal and Nifty Auto indices were among the major laggards, indicating selling pressure in economically sensitive sectors.

On the other hand, Nifty Media gained 0.99 per cent, while the Nifty PSU Bank index advanced 0.30 per cent.

The Nifty IT index also showed relative strength as investors continued to track developments in global technology spending and the upcoming Nvidia results.

Sensex Gainers and Losers

Within the 30-share Sensex pack, Trent and Eternal were among the leading gainers in early trade. They were followed by TCS, Tata Steel and Adani Ports.

On the losing side, Maruti Suzuki, Power Grid, HCL Technologies and Tech Mahindra were among the notable laggards.

The divergence between individual stocks highlights the importance of company-specific developments in determining near-term performance amid a cautious broader market.

PVR Inox Hits 52-Week High

PVR Inox emerged as one of the key stocks in focus on Tuesday after the company announced a share buyback plan.

The stock opened at ₹1,253.05, compared with its previous close of ₹1,231.30. It subsequently gained around 4 per cent and touched a 52-week high of ₹1,283.

The buyback announcement provided a positive trigger for the stock, with investors responding favourably to the potential capital-return measure.

Shankesh Jewellers Makes Strong Market Debut

Newly listed Shankesh Jewellers made a strong debut on the stock exchanges, outperforming expectations at the time of listing.

The stock listed at ₹103.30 on the NSE, representing an 11.08 per cent premium over its issue price of ₹93.

On the BSE, the shares debuted at ₹102.20, translating into a gain of 9.89 per cent over the issue price.

The strong listing indicates healthy investor interest in the company's shares despite the cautious tone prevailing across the broader market.

Brigade Hotel Ventures Gains After CEO Appointment

Shares of Brigade Hotel Ventures also attracted buying interest during the morning session.

The stock gained 6.23 per cent on the NSE and touched an intraday high of ₹62.92 after the company announced the appointment of Vinay Gupta as Chief Executive Officer.

The leadership appointment became a key trigger for the stock, placing the company among the notable movers in the broader market.

Great Eastern Shipping Gains Ahead of Buyback Decision

Great Eastern Shipping Company shares rose around 3.3 per cent during Tuesday's trade.

The stock opened at ₹1,333 on the NSE and subsequently touched an intraday high of ₹1,377.50.

Investor attention is focused on the company's upcoming board meeting, where a share buyback proposal is expected to be considered. The possibility of a buyback supported sentiment around the stock.

Global Cues Keep Investors Cautious

The weakness in Indian markets is also being influenced by developments in global equities.

Investors worldwide are awaiting Nvidia's earnings, which are expected to provide important clues about demand for artificial-intelligence infrastructure and the sustainability of the current technology investment cycle.

Any indication of moderation in AI-related spending could affect technology stocks globally, while stronger-than-expected results could provide support to risk sentiment.

Market participants are also awaiting remarks from US Federal Reserve Chair Kevin Warsh later this week. His comments could provide further direction on the outlook for US monetary policy and interest rates.

Investors Await Fresh Triggers

With the domestic market trading near important technical levels, investors are likely to remain selective.

Corporate developments, earnings announcements, foreign institutional flows, crude oil prices, the rupee-dollar exchange rate and global equity movements could influence market direction during the remainder of the session.

The immediate focus is likely to remain on whether the Nifty can reclaim the 24,150-24,200 zone or whether selling pressure pushes the index towards the psychological 24,000 level.

For now, the market remains in a cautious and stock-specific mode, with company announcements creating sharp moves in individual counters even as the broader benchmarks remain under pressure.