The BSE Sensex opened lower by 299 points at 31775, while the Nifty50 opened lower by 83 points at 9832 mark. ITC is dragging the major indices on Tuesday.
ACC was top Nifty gainer trading at Rs 1793 per share, up by 2.61% whereas ITC was top Nifty loser trading at Rs 284.15 per share, down by 12.61%. BSE Mid-cap index was trading at 15169 level, down by 0.18% and BSE Small-cap index was trading at 15864 level, down by 0.29%. There were 511 advances, 855 declines and 456 unchanged stocks on NSE reflecting negative sentiments floating in the market.
Cigarette manufacturing companies are losing grounds in the market on the back of speculations that the government may consider hiking the compensation cess on cigarettes if prices come down post the implementation of the Goods and Services Tax (GST). ITC was trading at Rs 284.15 per share, down by 12.61%, Godfrey Philips was trading at Rs 1133 per share, down by 7.7%. VST Industries was trading at Rs 3420 per share, down by 3.95%.
Indian rupee opens at 64.32 per USD on Tuesday. It hit its one-month high of 64.35 per USD in previous trading session on the back of strong macro-economic data and weak greenback.
Nifty’s support level may be placed at its 7-DMA of 9819 followed by 10-DMA of 9765 level.
The US stocks had shown a lack of direction over the course of the trading session on Monday. The Dow Jones Industrial Average edged down 8 points to end at 21,630. The S&P 500 almost closed unchanged, while the Nasdaq Composite index rose about 2 points to close at 6,314.
Asian markets are trading mixed in early trade on Tuesday. Hong Kong’s Hang Seng has advanced 40 points and China’s Shanghai Composite is almost unchanged, while Japan’s Nikkei 225 has slipped 119 points..
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