It's a weak start for stocks on the Indian bourses on Tuesday, with investors indulging in some selling in early trade, tracking a slightly negative trend in Asian markets. Caution ahead of the U.S. Federal Reserves' take on asset purchase program appears to be rendering movements a bit sluggish.
Bank, power, oil and automobile stocks are slightly weak, while select realty, capital goods, healthcare and information technology stocks are finding some support.
The BSE benchmark Sensex, which dropped down to around 19,227, is currently at 19,261, down 64.87 points or 0.33% from its previous close. The Nifty index of the National Stock Exchange, which declined to 5815.15, is down with a loss of 25.50 points or 0.44% at 5824.55.
Tata Power has lost around 1.7% at Rs 80.90. Tata Motors, a prominent gainer in the previous session, is down with a loss of 1.2% at Rs 296. Hindalco is down nearly a percent at Rs 101.10.
NTPC, HDFC Bank, HDFC, ICICI Bank, Sun Pharmaceutical Industries, Cipla and Reliance Industries are down 0.4% - 0.8%.
Ultratech Cement is down 2.2% at Rs 1868. Ranbaxy Laboratories, IndusInd Bank, Grasim Industries, BPCL, IDFC, Axis Bank, Jaiprakash Associates and Asian Paints are down 0.4% - 1.2%.
DLF, Bharti Airtel, Sesa Goa, Punjab National Bank, Reliance Infrastructure, Larsen & Toubro, Mahindra & Mahindra, Infosys and Tata Steel are up in positive territory, gaining 0.4% - 1.2%.
Reliance Communications (2.3%), United Spirits (2%), Jet Airways (1.5%) and Apolo Tyres (1.3%) have moved higher on fairly strong volumes.