(Reuters) – India’s benchmark indexes opened lower on Tuesday, dragged by information technology stocks and tracking other Asian peers as elevated U.S. Treasury yields continue to weigh on emerging markets.
The Nifty 50 shed 0.36% to 23,560.6 points as of 9:15 a.m. IST, while the BSE Sensex was down 0.34% to 77,982.57.
All the 13 major sectors declined at the open, with IT dropping 0.8% to be top sectoral loser.
The broader, more domestically focussed smallcaps and midcaps shed about 0.25% and 0.5%, respectively
So far this year, the Nifty and Sensex have gained about 8.5% and 8%, respectively, well below the roughly 20% jump last year as a moderation in corporate earnings and sustained foreign selling in the last quarter weighed on markets.
Other Asian markets opened lower on the day, with the MSCI Asia ex-Japan index shedding 0.2%. [MKTS/GLOB] ($1 = 85.5330 Indian rupees)
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Savio D’Souza)
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