Indian markets open subdued after record rally

Indian markets opened with a subdued performance today following a remarkable rally that boosted benchmark indices Nifty 50 and Sensex to record highs last week. 

The NSE Nifty 50 index saw a slight dip to 21,434.80 points, while the S&P BSE Sensex exhibited a marginal decline of 0.06 per cent, reaching 71,437.40, as of 9:15 am.

The decline comes after both Sensex and Nifty achieved unprecedented peaks at 71,605.76 and 21,492.30, respectively, driven by strong investments from foreign institutional investors (FIIs) and the Federal Reserve's decision to maintain unchanged interest rates.

Among the gainers on the 30-share Sensex were Sunpharma, Titan, and Bajaj Finance, while ITC, M&M, and JSW Steel witnessed declines. 

Zee Entertainment Enterprises witnessed a 4 per cent drop in its shares as it requested an extension of the merger deadline from Sony Group's Indian arm. Additionally, JSW Steel saw a more than 3 per cent decrease following allegations of rape against its Managing Director.
In a positive turn, sugar stocks surged notably as the government revised its earlier order regarding ethanol. 

As of 9:35 am, Sensex was trading 0.25 per cent lower at 71,302.01, and Nifty was down 0.22 per cent at 21,410.50. 

The market's cautious stance appears to be influenced by the upcoming monetary policy decision in Japan, scheduled for Tuesday, adding to the overall subdued sentiment in Asian markets.