Sensex, Nifty open in red; Reliance Industries, ICICI bank among early losers

Key indices on Tuesday opened in red. The 30-share BSE Sensex was down 82.24 points at 36,201.01 and the 50-share NSE Nifty fell 40.20 points to 11,090.20.

At 9:31 AM, Sensex was trading low at 36,207.72 points while Nifty fell 0.35% to trade at 11,091.70 points. 

Among the early losers were TCS, ICICI Bank, ITC, Reliance Industries, HDFC Bank, Infosys, L&T and Vedanta while Bajaj Auto, Hero Motocorp, Indiabulls Housing, GAIL, BPCL, NTPC and HPCL were in green. 

The shares of TVS Motor Company and IOC will be in spotlight ahead of their earnings later in the day today. 

Asian stocks retreated from record highs on Tuesday after a selloff in Apple shares knocked Wall Street lower, while the dollar found support as US bond yields climbed to near four-year highs.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.5 percent after rising to an all-time high the previous day.

Australian stocks shed 0.4 per cent, South Korea's KOSPI lost 0.1 per cent and Japan's Nikkei dropped 0.7 per cent.
Hong Kong's Hang Seng slipped 0.2 per cent and Shanghai was down 0.3 per cent.

The bearish sentiment in Asia followed a softer lead from Wall Street, which has led a global equities rally over the past year thanks to strong world growth fuelling higher corporate earnings and stock valuations.

Meanwhile, India is likely to clock 7-7.5% growth rate in 2018-19, up from 6.75% in the current financial year, and regain the world's fastest growing major economy tag, the Economic Survey 2017-18 predicted on Monday.

The GDP growth, said the survey, has averaged 7.3% from 2014-15 to 2017-18, making it the highest among major economies of the world.

"That this growth has been achieved in a milieu of lower inflation, improved current account balance and notable reduction in the fiscal deficit to GDP ratio makes it all the more creditable," said the annual survey that is regarded as the report card of the economy.