Sensex, Nifty may open flat with negative bias

The BSE Sensex and NSE Nifty are likely to open flat with negative bias on Tuesday tracking SGX Nifty and Asian markets. (Photo: PTI)

The BSE Sensex and NSE Nifty are likely to open flat with negative bias on Tuesday tracking SGX Nifty and Asian markets.

At 8.25 am (IST), SGX Nifty was down 5.50 points at 8,145.50.

Retail inflation also rose to 4.41 per cent in September due to costlier food items in general and beverages and pulses in particular. The Consumer Price Index (CPI) based inflation in August stood at 3.74 per cent on cheaper vegetables, fruits and protein rich items, government data showed on Monday.

Asian shares stepped back from two-month highs on profit-taking on Tuesday and oil prices regrouped after Monday’s big fall, while the dollar was on the defensive as expectations of an imminent US rate hike receded.

The biggest focus in Asia on Tuesday is China’s September trade data later in the day, which is expected to show further weakness in the world’s second largest economy.

Hang Seng, Nikkei and Shanghai were down 0.66 per cent, 0.93 per cent and 0.84 per cent, respectively.

Back home, Sensex and Nifty slid 0.65 per cent and 0.56 per cent at 26,904.11 and 8,143.60. Foreign portfolio investors (FPIs) bought shares worth a net Rs 317.56 crore on Monday, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 175.07 crore, as per provisional data.

IT major TCS will announce its second quarter earnings on Tuesday.

(With inputs from agencies)