Equity benchmark indices traded at flattish levels during early hours on Tuesday despite positive global cues with metal stocks taking a hit.
At 10:15 am, the BSE S&P Sensex was down by 103 points or 0.2 percent at 52,226 while the Nifty 50 lowered by 46 points or 0.29 percent to 15,705.
Sectoral indices at the National Stock Exchange were mixed with Nifty metal down by 1.4 percent, PSU and private bank by 0.9 percent each, and financial service by 0.7 percent.
Among stocks, Hindalco cracked by 2.9 percent to Rs 383.50 per share while JSW Steel lost by 3.1 percent to Rs 693.55 and Tata Steel by 2.2 percent.
State Bank of India, SBI Life, IndusInd Bank, ONGC, Coal India, Adani Ports, and Tata Motors also traded in the negative territory.
However, Infosys and Tech Mahindra gained by 1.4 percent each, Wipro by 1.1 percent, HCL Technologies by 1 percent, and Tata Consultancy Services by 0.7 percent.
Meanwhile, Asia stocks opened higher with investors hoping for inflation and monetary policy clues later in the week.
MSCI’s broadest index of Asia Pacific shares outside Japan rose 0.11 percent. Japan’s Nikkei edged up 0.35 percent and Hong Kong’s Hang Seng Index opened up 0.4 percent.
The upward momentum comes as the G7 nations reached a landmark deal on Saturday to back a minimum global corporate tax rate of at least 15 percent, lifting shares of technology giants such as Microsoft and Facebook as their future tax obligations become more predictable. (ANI)