The Indian equity benchmark indices opened slightly lower on Tuesday due to muted trading activities amid the holiday season in major global markets. VIX rose over 4 percent in the opening bell.

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The Sensex opened 11.32 points or 0.03 percent lower at 41,546.68 while the Nifty50 opened at 12,245.40, down 10.45 points or 0.09 percent.

The Nifty Pharma remained the best-performing index in the opening trade while the Nifty IT was the worst-performing index.

Bharti Infratel, NTPC, YES Bank, Dr Reddy's Laboratories and GAIL were the Nifty50 top gainers while Tech Mahindra, JSW Steel, Hero MotoCorp, HDFC Bank and Eicher Motors remained the top losers.

Shares of Chalet Hotels surged over 11 percent in the early trade after it entered into five new agreements extending collaboration with Marriott International Inc. for over 1,500 keys in luxury and upper‐upscale hotel segment India.

Nava Bharat Ventures' share price rallied over 8 percent after the company's management to CNBC-TV18 said that the tariff hike in Zambia is positive and will improve profits in FY21.

Meanwhile, markets in Japan and South Korea were closed, while Hong Kong, Singapore, and Australia are set to end their trading day early today.

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