Domestic equity benchmark Sensex dropped over 85 points in early trade on Tuesday amid lack of directional cues from global markets.
The 30-share BSE index opened on a choppy note and was trading 2.15 points or 0.01% lower at 38,415.08; while the NSE Nifty slipped 6.80 points or 0.06% to 11,348.25.
PowerGrid was the top loser in the Sensex pack, shedding around 1%, followed by NTPC, Nestle India, ONGC, L&T, HDFC and M&M. On the other hand, Reliance Industries, Sun Pharma, Infosys, Axis Bank and ICICI Bank were among the gainers.
In the previous session, Sensex settled 60.05 points or 0.16% higher at 38,417.23, while Nifty advanced 21.20 points or 0.19% to close at 11,355.05.
Exchange data showed that foreign institutional investors sold equities worth ₹6.93 crore on a net basis on Monday. Domestic equities opened on a choppy note tracking mixed cues from global equities, traders said.
Bourses in Shanghai and Hong Kong were trading with losses in mid-session deals, while Seoul and Tokyo were positive. Stock exchanges on Wall Street ended on a negative note in overnight session.
Global oil benchmark Brent crude was trading 0.14% lower at $41.95 per barrel.
