NEW DELHI: Domestic equity benchmarks registered a gap-down opening on Tuesday as the 30-share Sensex plunged 274 points and Nifty touched 10,152 in early trade tracking weakness in Asian peers and rupee's fresh fall against the US dollar.
Asian shares edged lower on Tuesday as earnings season nerves in the US dented Wall Street, while a cocktail of negative factors from Saudi Arabias diplomatic isolation to concerns over Italys budget and Brexit talks depressed sentiment, Reuters reported.
The rupee opened 14 paise lower at 73.70 against the US dollar on Tuesday due to the strengthening of the American currency.
On the macroeconomic front, oil prices steadied in the international market and dollar gained against its major peers.
The NSE Nifty index was trading 59 points down at 10,187, while the BSE Sensex was down 177 points at 33,957 around 09:25 am.
In the 30-share Sensex, only seven stocks – IndusInd Bank, Adani Ports, Tata Motors, HDFC, Coal India, PowerGrid and Axis Bank – were in the green zone.
Asian Paints, losing nearly 6 per cent, was leading among the Sensex losers.
The company posted on Monday a 14.4 per cent fall in second quarter profit, which missed analysts' estimates, hurt by higher expenses. Net profit fell to Rs 493 crore ($67.02 million) in September quarter from Rs 576 crore a year earlier, the company said in a statement.
ONGC, Reliance Industries, ITC, Kotak Mahindra Bank and Hindustan Unilever also featured among the top losers in the Sensex index.
Midcaps and smallcaps, too, fell in line with Sensex. The BSE Midcap and Smallcap index were down by 0.51 per cent and 0.64 per cent around that time.
Selling engulfed all sectors on BSE. Oil & gas, energy and FMCG were the worst hit sectors, falling up to 1.80 per cent.
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