The trends on Gift Nifty also indicate a flat start for the Indian benchmark index. The Gift Nifty was trading around 26,000 level, a premium of nearly 10 points from the Nifty futures’ previous close.

Indian stock market indices Nifty and Sensex opened flat on Tuesday as the markets entered a consolidation phase after foreign investors turned towards other Asian markets like China and Hong Kong.

A combination of global uncertainties and domestic profit booking has led to the recent stock market decline. Most stocks are trading in red.

The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 26,305 level, a discount of nearly 40 points from the Nifty futures’ previous close.

The broader market faced selling pressure, though not as severe as the benchmarks. The BSE Midcap index declined by 0.4 percent, while the Smallcap index fell by 0.2 percent.

Sensex fell 700.29 points, or 0.82 per cent, to 84,871.56, with the BSE market capitalisation m-cap falling 3.15 lakh crore to Rs 474.77 lakh crore. A total of 2,101 listed stocks on BSE fell, while only 1,