Mumbai: Indian equity markets opened on a cautious note on Tuesday, with the BSE Sensex slipping 216.34 points, or 0.26%, to 83,060.81 at 9:16 am. The 30-share index opened nearly flat at 83,197.67 against Monday’s close of 83,277.15. The Nifty 50 dropped 106.45 points to 25,576.30.

Some of the top gainers in early trading include Soma Textiles, Digispice Tech, Sadbhav Engineering, and AurionPro, while Eternal slipped below its 50-day moving average.

On the NSE, Cochin Shipyard emerged as the top performer, whereas Vedanta faced a sharp decline on strong trading volumes.

Among other notable movers, Texmaco Rail surged 9% and TVS Supply Chain climbed 6%.

On the downside, Ola Electric, First Cry, Eternal, Swiggy, Sundaram Finance, Hindalco, GMDC, Nalco, and Vedanta were among the biggest losers among Nifty 500 stocks.

The market had rebounded sharply on Monday, snapping a three-day losing streak, as the Sensex surged 650.39 points, or 0.79%, to 83,277.15, while the Nifty rose 211.65 points, or 0.83%, to 25,682.75. Gains were driven by strong buying in power, banking, and financial stocks, amid a mixed trend in global markets.

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Traders said a largely stable rupee and steady global crude oil prices, amid ongoing US-Iran talks, supported investor sentiment.

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On Tuesday morning, market breadth was negative, with 2,565 stocks declining, 1,747 advancing, and 184 remaining unchanged on the BSE. The market capitalisation of BSE-listed firms increased by ₹3,11,982.13 crore on Monday to ₹4,68,58,625.33 crore (USD 5.17 trillion).