The Indian stock market experienced increased volatility as the India VIX rose for the third consecutive session, indicating heightened uncertainty.

The Sensex opened flat but struggled to maintain direction, currently down 163 points or 0.2% at 80,056, while the Nifty fell 66 points or 0.3% to 24,405.

Market breadth showed 1,154 shares advancing against 1,797 declining, with 100 shares unchanged. Key sectors such as auto and power stocks exerted downward pressure, despite gains in financial and IT stocks.

Factors contributing to the market's struggles include uncertainty surrounding the upcoming US Presidential elections, ongoing conflicts in the Middle East, disappointing Q2 earnings, and persistent selling by Foreign Institutional Investors (FIIs).

Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, mentioned that Domestic Institutional Investors (DIIs) are buying amid FII sell-offs, but their capacity to absorb the selling pressure is limited, despite having cash reserves.