The Sensex opened flat at 17,768. Therafter, the index slipped on cues from Asian peers to touch a low of 17,675. The Sensex is now down 79 points at 17,695.
The Nifty is down 27 points at 5,306.
Most of the sectoral indices are in red. The bankex has dropped 0.6% to 10,778. Two of the big banks - ICICI Bank and SBI are set to announce the base rates later today.
US stocks ended slightly lower on Monday as gains in consumer-related stocks, including tobacco shares, were offset by losses in the energy sector. Dow was flat at 10,139. Nasdaq ended almost unchanged at 2,220.
Asian markets are down on their worst quarterly performance since end of 2008. The Hang Seng has dropped 1% to 20,504. Shanghai is down 1.5% at 2495.
HDFC has shed 1% at Rs 2,925. ONGC and ICICI Bank have slipped 1% each to Rsc 1,291 and Rs 859, respectively.
Tata Steel, Jaiprakash Associates, DLF and Hindalco are down nearly 1% each in morning trades.
Meanwhile, Tata Power has added 1% to Rs 1,348. Reliance Communications and Maruti are up marginally.
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