NEW DELHI: Benchmark stock indices opened on a weak note on Tuesday as concerns over US-Sino trade war re-emerged.
The worries dragged US stocks down 1 per cent overnight, which dented sentiment globally.
At 9.20 am, the BSE Sensex was trading 25.59 points, or 0.08 per cent lower at 3,4041.81.
The index fell over 100 points in early trade.
Nift5o fell 33.05 points, or 0.32 per cent, to 10,217.80.
The index hit a low of 10,206.30 in early trade.
Any intraday pullback towards 10,200-10,160 is likely to get bought into, said Sameet Chavan of Angel Broking.
The expert advised traders to go one step at a time and keep revising stop losses for existing positions.Most of the sugar stocks were trading higher in early trade on Tuesday after industry body ISMA said that sugar output may fall by 3 per cent to 31.5 million tonnes (MT) in the current marketing year on untimely rains and pest attacks that affected the cane crop.Data showed Dhampur Sugar zoomed 10 per cent to Rs 171.15.
Magadh Sugar surged 5 per cent to Rs 121.90.
Thuru Sugar climbed 4.76 per cent to Rs 30.80.
Dalmia Sugar, Rana Sugar and Balrampur Chini climbed 4.56 per cent, 4.06 per cent and 4 per cent, respectively.Shares of government-owned Bharat Petroleum Corporation (BPCL) declined over 4 per cent in early trade on Tuesday, a day after it posted a 48.3 per cent decline in its net profit to Rs 1,218.71 crore for the second quarter of FY19.
In overnight trade, the SP500 index declined 17.44 points, or 0.66 per cent, to close at 2,641.25 while the Dow Jones Industrial Average lost 245.39 points, or 0.99 per cent, to 24,442.92.
A total of 137 companies including ABB, Dena Bank, The Ramco Cements, EIH, Alembic, Bhushan Steel, Blue Star, Manpasand Beverages, Tech Mahindra, IDFC, Bank of Baroda and Symphony will announce their quarterly results later in the day.Data showed fForeign portfolio investors (FPIs) were sellers to the tune of Rs 2,230.79 crore on Monday.
DIIs were net buyers to the tune of Rs 2,526.90 crore, provisional data available with BSE suggested.