Domestic stock markets started Tuesday’s session on a lacklustre note tracking weakness in Asian peers. The S&P BSE Sensex fell as much as 80.44 points in early trade to 38,620.09, while the NSE Nifty touched 11,574.15, down 30.35 points from the previous close. Losses were led by selling in energy stocks while gains in metals and PSU banking counters kept the downside in check. Caution prevailed ahead of key macroeconomic data and key earnings due later in the week, say analysts.
On the 50-scrip index, top laggards were Asian Paints, Indiabulls Housing Finance, GAIL, UPL and Indian Oil, trading between 1.05 per cent and 2.72 per cent lower.
Equities in other Asian markets struggled to make gains as investors braced for key events later in the week, including the start of the US earnings season and a crucial Brexit summit, while broader concerns about slowing global growth checked sentiment.
MSCI’s broadest index of Asia-Pacific shares outside Japan was basically flat after brushing its highest since late August last year during the previous session. Japan’s Nikkei dipped 0.15 per cent.
(With inputs from Reuters)
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