Opening Bell: Nifty, Sensex extend losses, indices down nearly 1%; tech shares, Reliance drag

Domestic equity benchmarks Nifty50 and S&P BSE Sensex extended their losses on Tuesday after correcting by nearly 2 per cent on Monday. The Nifty and the Sensex opened at 17,281.75 and 57,983.95, respectively. The indices corrected nearly 1 per t in the opening trade itself.

See Zee Business Live TV Streaming Below:

The Bank Nifty, which closed nearly 850 points lower on Monday, started at 36,787.00, down over 300 points.

Tech shares were top drags as Infosys, Tech Mahindra, ICICI Bank, Reliance and Wipro declined between 2 and 3.5 per cent in the early morning trade. Tata Steel, JSW Steel, Grasim, Powergrid, NTPC gained between 0.5% and 1.5 % on Nifty index in otherwise negative market.

In the preopen, 30-share the Sensex was down over 500 points or 06% to 57,962.97 and the Nifty saw only 9 shares advancing, while 41 declined.

Earlier, SGX Nifty hinted at negative opening for the Indian markets as Nifty Futures were down 55 points in the early morning trade on Tuesday.

Asian markets traded mixed this morning. Nikkei 225 index was trading flat with a positive bias and a gain of 28 points at 29,774 in the early trade. Shanghai Composite was up 11 points to 3, 591, while Hang Seng Index was trading in the red, lower by 242 points to 24, 708 around 7.20 am on Tuesday.

Earlier on Friday, the US stock market indices on the Wall Street closed mixed on Tuesday. Dow Jones closed flat with a positive bias after gaining marginally by 17 points to 35,619, Nasdaq Composite settled 203 points lower to 15,855 and S&P 500 was down 15 points to 4,683.

(Disclaimer: The views/suggestions/advices expressed here in this article are solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)