Market opens in red on weak global cues

The NSE Nifty was trading at 10,229.00, up 17.20 points or 0.17 percent.

New Delhi: Stock market opened in the red on Tuesday amidst weak global cues. However minutes into the trading, BSE Sensex pared some initial losses and was trading up 31.30 points or 0.09 percent at 33,286.66.

The NSE Nifty on the other hand was trading at 10,229.00, up 17.20 points or 0.17 percent. Top laggards include Wipro, Adani Ports, ONGC, Tata Steel, Coal India, Asian Paint, Infosys, HDFC Bank, Bharti Airtel, L&T and Kotak Bank, falling up to 1.86 percent.

On the other hand, SBI, Yes Bank and ICICI Bank were among the top gainers, rising up to 2 percent.

Asian stocks extended a global selloff and the yen rose on Tuesday as investors fled for safety as an escalating trade spat between the United States and China and a renewed slump in tech shares such as Amazon.com sapped investor confidence. Japan`s Nikkei was down 0.9 percent, having gone as deep as 1.6 percent at the open. China`s Shanghai Composite index eased 0.4 percent and the blue-chip CSI300 was off 0.7 percent. 

With Agency Inputs