By IANS
Mumbai : Indian stock markets opened on a subdued note Tuesday, despite a strong rally Monday.
Just minutes after Tuesday’s opening bell, the benchmark sensitive index (Sensex) of the Bombay Stock Exchange (BSE) was down by 146.65 points or 0.76 percent at 19,100.89. The broader S&P CNX Nifty of the National Stock Exchange (NSE) was marginally down by 24.80 points or 0.43 percent at 5,706.90.
Among the broader indices, the BSE mid-cap and BSE small-cap have also lost some ground. The BSE mid-cap index was down by 42.05 points or 0.50 percent, trading at 8,342.20, while the BSE small-cap index declined 10.91 points or 0.11 percent to 10,332.34.
“The market trend is northwards but we will see range bound movement in short term,” said Manish Arora, an analyst with Reliance Money.
US indices tumbled on Monday, as investors feared that the credit crisis there could lead to recession. While the Dow Jones fell over 237 points, the Nasdaq moved down by 56 points.
Indian floats trading on the US bourses all slipped on Monday with ICICI Bank registering the highest fall of 5.91 percent while HDFC Bank lost 5.54 percent. VSNL, Tata Motors, Infosys, Wipro and ICICI Bank slipped 1-3 percent each.
The top gainers on the Sensex were Bajaj Auto which scaled up 1.74 percent to Rs.2,632.40, Tata Steel advanced 1.10 percent to Rs.858.30 and SBI moved up by 0.84 percent to Rs.2,261.
The top losers on the Sensex were Bharti Airtel which declined 2.74 percent to Rs.922, ICICI Bank tumbled 2.41 percent to Rs.1,129.80 and Maruti Suzuki was down by 2.14 percent to Rs.932.