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Benchmark indices have snapped two-day winning streak and are trading lower, weighed down by financials amid mixed global cues.
Meanwhile, debt crises surrounding Greece coupled with rising bond yield has dampened sentiments.
Meanwhile, debt crises surrounding Greece coupled with rising bond yield has dampened sentiments.
At 9.40 AM, the Sensex was down 100 points at 27,588 and the Nifty was quoting at 8,338, down 35 points.
In corporate results, Tata Power and Colgate Palmolive are set to declare their March quarter numbers during the day.
GLOBAL MARKETS
Asian shares edged down on Tuesday as worries over Greece's fiscal woes took some of the shine off Wall Street's record close, helping steer the dollar higher and undermining the euro. The key indices in South Korea, Japan, Indonesia and Taiwan have edged higher by 0.2% to 0.8%, while the Chinese, Hong Kong and Singaporean markets are trading marginally in the red.
Fears of a Greek bankruptcy persisted even as the country's finance minister said on Monday that it was close to a deal with its lenders that would help it meet debt repayments next month.
Both the Dow Jones industrial average and the S&P 500 closed at record highs, the third straight for the latter, after lacklustre economic data raised hopes that the US Federal Reserve would hold off raising interest rates.
SECTORS & STOCKS
On the sectoral front, BSE Healthcare, Consumer Durables, Oil & Gas indices are down up to 0.5% and are losing sheen. However, BSE IT, Auto, Capital Goods indices are trading flat.
Tata Power is trading 1% higher ahead of the quarterly results due tomorrow.
Bharti Airtel is up nearly 1% on advanced talks to buy out Augere Wireless Broadband India for about Rs 150 crore to consolidate its 4G high-speed broadband footprint ahead of Reliance Jio Infocomm's launch.
Tata Steel is in talks to sell its UK long product plant for a token amount. The stock is up 0.3%.
The country's second largest software services firm Infosys aims to meet its entire electricity requirements from renewable sources by 2018. The stock has gained 1%.
Financials are losing sheen in today’s trade. ICICI Bank, HDFC twins, Axis Bank are trading lower between 0.3-1%.
Oil exploration major ONGC is trading lower by over 1% on further decline in crude oil prices.
Engineering conglomerate L&T is trading higher by 1% as government decides to spend more on the road and infrastructure development in order to revive the ailing economy. BHEL is trading flat with a positive bias.
In the broader market, BSE Midcap and Smallcap indices are trading in line with the large peers and are trading flat.
The market breadth is positive with 791 shares advancing versus 554 shares declining on the BSE.
