Equity benchmarks began the day on a flattish note with a hint of negative bias. Soon after the opening, indices moved in the red zone, with the Nifty giving up 10,300.
The Sensex was down 67.71 points at 33388.08, while the Nifty was down 26.60 points at 10295.70. The market breadth was narrow as 611 shares advanced against a decline of 577 shares, while 43 shares are unchanged.
Among sectors, banks have taken a hit, while midcaps are in tandem with benchmarks.
Dr Reddy’s Labs, ONGC, and GAIL were the top gainers on both indices, while Asian Paints, Coal India and HPCL lost the most.
On the global front, Asian shares were trying to string together a fourth session of gains on Tuesday as optimism about global growth looked set to outlast an almost certain hike in US borrowing costs this week.
The latest upbeat news came from China where banks doled out a surprisingly generous dose of credit in November, which could bode well for a pick up in retail sales and industrial output due later in the week.
US stocks closed higher on Monday as investors prepared for an expected Federal Reserve rate hike later in the week, while stocks rose around the world on continued solid global economic growth indicators.
The Dow Jones Industrial Average and the S&P 500 opened flat after news of an explosion in New York's busy Port Authority commuter hub which New York Mayor Bill de Blasio described as an "attempted terrorist attack."
Missed call
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