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After a flat opening market lost ground led primarily by selling in financials and IT heavweights.
At 9.30am, the 30-share BSE Sensex is trading at 20,541 down 64 point while broader 50-share Nifty index is at 6097 levels down 17 points.
Gains in L&T, Bharti Airtel, Sun Pharma, BHEL, Sesa Sterlite are the top gainers while Infosys, ITC, TCS, HDFC Bank and HDFC are the top laggards.
Broader markets are outperforming benchmarks with mid-cap and small-cap stocks up between between 0.06-0.14%.
Overnight, the Dow industrials eked out a slim gain on Monday to end at another record high, after the Nasdaq topped 4,000 for the first time in 13 years and then slipped to close below that level.
The Dow Jones industrial average rose 0.05 percent, to end at 16,072, another nominal record closing high. Earlier, the Dow hit yet another all-time intraday high at 16,110. But the S&P 500 dipped 0.13 percent, to finish at 1,802.
The Nasdaq Composite Index added 0.07 percent, to close 3,995. Earlier, the Nasdaq touched an intraday high at 4,007 - its first moved above 4,000 in 13 years. But the Nasdaq pulled back in late trading.
Asian shares headed for a third straight session of gains, though Tokyo's Nikkei benchmark retreated from a six-month high as the yen recovered some of Monday's steep losses.
MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.3 percent, building on a 0.3 percent rise in the previous session, though it faced resistance at its 50-day moving average.
Tokyo's Nikkei share average . shed 0.7 percent after it climbed 1.5 percent on Monday to within sight of a 5-1/2 year peak reached in May.
Oil prices stabilized on Tuesday after Monday's slide as traders questioned how quickly the Iranian nuclear accord could translate into higher supplies, while the yen came off a four-year trough against the euro.
Back home, among the BSE indices of industrial sectors, Capital Goods, up 1.1%, is leading the gains followed by Healthcare, Power, Consumer Durables, metals and realty are between 0.2-0.3%.
Stocks to Watch
Kalpataru Power Transmission has surged 6% to Rs 82.90 in early morning deals on BSE after the company said it has received orders worth of over Rs 1,000 crore. The orders involve projects in Egypt, Rwanda and D.R.Congo.
Asian Paints may see a red tick as its wholly owned subsidiary; Asian Paints Industrial Coatings Ltd has closed down the operations of its powder coatings plant in Himachal Pradesh due to significant decline in the processing volume of powder coatings for the last two years.
Kalpataru Power is likely to see some gains as the company has secured orders worth Rs 1,007 crore. The first order is for a 500-kV D/C over-head transmission line worth Rs 630 crore in Egypt.
