Mumbai, July 29 -- The Indian stock markets opened on a weak note on Tuesday, weighed down by persistent foreign portfolio investor (FPI) selling and concerns over a delay in the India-US trade deal, which may lead to a 15 per cent tariff.

The Nifty 50 index opened at 24,609.65, down by 71.25 points or 0.29 per cent, while the BSE Sensex opened lower at 80,620.25, registering a loss of 270.77 points or 0.33 per cent.

Market experts noted that Indian equities are currently in an oversold zone, and while a short-term technical bounce is possible, a sustained rally will likely return only if FPI flows turn positive.

Ajay Bagga, a banking and market expert, told ANI, "Indian markets are facing consistent FPI selling, with secondary market ...