BSE Sensex slips over 50 points, Nifty by 14 points in early trade on weak global cues

Markets opened in red on Tuesday amid caution on the US-China trade talks front and concerns over slowing Chinese economy. 

The  BSE Sensex was trading lower by 0.14 per cent, or 50.71 points, at 36,013.10 in the early trade while NSE Nifty edged down by 0.13 per cent, or 14.60 points, at 10,848.90.

Capital goods, IT and financial counters were the major losers.

Indian equities followed the weak trend prevailing on Asian bourses as investors awaited fresh developments in the China-US trade talks. China lowering its growth forecasts for this year also played in the minds of cautious investors.

The rupee appreciated by 11 paise to 70.81 against the US dollar in opening trade Tuesday, driven by weakening of the greenback in overseas markets and fresh foreign inflows. The rupee opened weak at 70.95 at the interbank forex market then gained further ground and touched 70.81 amid a weak opening in domestic equities, displaying gains of 11 paise over its last close.

Globally, investors tracked losses on Wall Street, where the global rally hit a bump as optimism that the world's top two economies are heading for a tariffs deal was replaced by a need for clarity on any agreement.

In Asia, Shanghai was down 0.2 per cent while Hong Kong slipped 0.6 per cent and Tokyo was 0.6 per cent lower.