Key Indian equity indices open lower on Tuesday

Mumbai: Key Indian equity indices opened lower on Tuesday in line with their Asian peers, as the steep fall in crude oil prices the day before dented energy shares globally and pulled down the markets.

Against the previous close at 25,530.11 points, the sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 25488.42 points.

Within minutes into trading, the key index was ruling at 25,434.86 points, with a loss of 95.2 points, or 0.37 percent.

At the National Stock Exchange (NSE), the broader 50-share Nifty was ruling at 7,738.65 points with a loss of 26.75 points, or 0.34 percent, over the previous close at 7,765.40 points.

The main reason for the poor sentiments were the continuing fall in the global crude oil prices -- which remained close to seven-year lows in the early trades of Tuesday in the Asian markets.

At Friday's meeting of the Organisation of the Petroleum Exporting Countries (OPEC), there was no agreement on production cuts.

On Monday, after opening higher, both the two key indices dipped successively to finally end the day in the red.

The 30-share Sensex fell by 108 points, or 0.42 percent, while the Nifty fell 16.50 points, or 0.21 percent.

"Indian market continued to slide for the fourth day as foreign fund selling amid growing fears over the interest rate hike in the US this month kept investors nervous," Angel Broking said in an analysis, ahead of the opening bell on Tuesday.

In the Asia Pacific region, Japan's Nikkei, Australia's S&P/ASX 200, Hong Kong's Hang Seng, China's Shanghai Composite and South Korean Kopsi were all down in early trades on Tuesday.