Domestic equity benchmarks opened lower on Tuesday amid mixed cues from global markets, elevated crude oil prices and West Asia conflict.

Sensex started at 73,484.38, down 122.37 points or 0.17 per cent. Similarly, Nifty began the trading session at 22,708.80, down 44.40 points or 0.20 per cent.

In early deals, selling was seen in IT, cement and oil & gas counters, while buying was seen in pharma, healthcare and PSU banks.

Nifty IT declined more than 1 per cent, while Nifty Cement decreased by 0.98 per cent and Nifty Oil & Gas slipped 0.53 per cent.

From Nifty, Infosys, Asian Paints, Tata Consultancy Services (TCS), JSW Steel and HCL Tech were among top losers in early trade, declining up to 2.78 per cent.

On the other hand, Nifty PSU Bank gained 0.68 per cent, Nifty Pharma was up 0.44 per cent and Nifty Healthcare was trading 0.39 per cent higher.

Market experts said Brent crude remaining above $114 per barrel and the US 10-year bond yield hovering around 4.97 per cent continue to be near-term headwinds.

“FIIs will remain in a risk-off mode in this adverse macro setting. However, improving fundamentals of the corporate sector as reflected in Q2 earnings and robust domestic fund inflows will continue to support the market,” the analysts said.

The experts further said, “Both the recovery attempts and the easing on approach to 22690 are on anticipated lines. As long as dips are contained above 22630, we will remain interested in an upside play aiming for 23000 or even 23500 with volatility expectations once inside the 22800-900 region.”

Alternatively, inability to float above 22630 could expose 22250-22000, but a collapse is less expected, they added.

In addition, FIIs remained net sellers on Monday and offloaded equities worth Rs 1,462 crore. In contrast, DIIs extended their buying streak to 10 consecutive sessions with net purchases of Rs 2,609 crore.

Globally, US markets closed higher overnight with the S&P 500 up 0.7 per cent and the Nasdaq up 0.82 per cent, while Asian equities showed mixed performance in early trade.

The Income Tax Department has recently nudged select taxpayers who have invested in residential and commercial properties in the UAE to avail of the Foreign Assets of Small Taxpayers – Disclosure Scheme, 2026 (FAST-DS), offering a one-time opportunity to declare these overseas assets which have been undisclosed so far, according to Finance Ministry sources.

The scheme provides a time-bound window to regularise eligible disclosures by paying 30 per cent tax on the fair market value and an equal amount of penalty in addition to tax. A crucial feature of the scheme is that it is fully online, trust-based, and self-declaratory.

A valid declaration brings immunity from further assessment, penalty and prosecution under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (Black Money Act). The scheme further provides an opportunity to taxpayers to report unaccounted assets and income on payment of a Rs 1 lakh fee to avoid a penalty of Rs 10 lakh each year prescribed in the Black Money Act.

Till now, approximately 1,100 taxpayers have filed applications under the scheme, which is open till December 31, 2026, sources said.

The Central government has launched the Foreign Assets of Small Taxpayers – Disclosure Scheme, 2026 (FAST-DS), offering a one-time opportunity to disclose foreign assets and income that have been undisclosed so far.

To facilitate taxpayers, the Department has created a facility in the e-filing portal where a taxpayer can see information with respect to assets reported on their PANs by the foreign jurisdictions under Automatic Exchange of Information (AEOI), popularly known as CRS/FATCA. Taxpayers can log in to the e-filing portal and download this information for the three-year period 2022-2024.

Sources informed that the information received under AEOI from the signatories of CRS/FATCA frameworks has only been displayed in the e-filing portal. Department receives information under other multilateral frameworks which has not been displayed in the portal due to various risk factors or non-disclosure commitments. Further, the Income Tax Department collects information from other sources as well. The Department decided, in a high-level meeting on October 23, that such information may also be shared with relevant taxpayers, wherever possible, to enable them to take advantage of the scheme.

The Income Tax Department has also planned outreach programmes to create awareness among taxpayers, corporates as employers, educational institutes, professional bodies and industry associations. The Central Board of Direct Taxes (CBDT), which is the apex body that heads the Income Tax Department, has also made a Committee in each region under the Principal Chief Commissioner to help taxpayers resolve their queries and concerns.

The Indian unit of Elon Musk-backed electric vehicle (EV) maker Tesla — Tesla India Motors and Energy — has reported revenue of Rs 247.31 crore and a net profit of Rs 5.16 crore for FY26.

According to regulatory filing, revenue from operations surged nearly 12-fold from Rs 20.83 crore in FY25.

The carmaker’s net profit increased from Rs 55.49 lakh as the company expanded its presence in the Indian market following the launch of its first showroom in Mumbai in 2025. However, FY26 was the first year in which vehicle sales contributed to Tesla India’s reported revenue.

In the previous financial year, the company’s turnover had come entirely from services-related operations.

Vehicle sales generated Rs 214.69 crore during FY26, accounting for nearly 87 per cent of total revenue, while services contributed Rs 32.40 crore.

The performance came despite a relatively small sales base as the company recorded 346 vehicle registrations in India between September 2025 and March 2026.

Meanwhile, registrations accelerated to 650 units during April-September FY27, surpassing the entire previous year’s tally within the first six months of the fiscal year.

Average monthly registrations rose from around 49 units during the initial launch phase to about 108 units.

Apart from that, the company strengthened its balance sheet through fresh capital infusion.

Filings showed Tesla injected about Rs 86 crore into its Indian subsidiary during FY26.

In addition, cash expenditure on property, plant and equipment and capital work-in-progress climbed to Rs 62.54 crore in FY26 which was higher than Rs 1.16 crore in the previous year.

Earlier in October, CEO Musk showcased a new version of its Roadster sports car — a prototype that briefly lifted off the ground during a demonstration at a SpaceX facility in Texas.

He highlighted that the vehicle navigated an elevated curved track before becoming airborne for a short distance and landing safely, drawing comparisons to the concept of a flying car.