Benchmark indices opened on a flat note on Tuesday amid firm Asian markets which rose on the possibility of the US-China striking a deal to end the ongoing tariff war.
Shares of Eicher Motors slipped 3 per cent in the early trade despite reporting a 2.39 per cent increase in consolidated profit after tax at Rs 532.95 crore in the third quarter ended December 31, 2018.
Shares of Axis Bank slipped over 1 per cent in the early trade as the government plans to hit the market with an offer for sale (OFS) for offloading its stake in Axis Bank that it holds through the Specified Undertaking of Unit Trust of India (SUUTI).
Over 450 companies are scheduled to release their December quarter results on Monday. Some of the prominent names include Coal India, Hindalco Industries and Sun Pharmaceutical Industries.
Asian shares barely budged on Tuesday with investors looking to a new round of Sino-US trade talks as the world’s two largest economies try to resolve a tariff dispute that has put a dent on global growth and corporate earnings.
MSCI’s broadest index of Asia-Pacific shares outside Japan was unchanged in early trade. Japan’s Nikkei was up 1.1 per cent after a market holiday on Monday.
On Wall Street, the Dow Jones Industrial Average fell 53.22 points, or 0.21 per cent, to 25,053.11, the S&P 500 gained 1.92 points, or 0.07 per cent, to 2,709.8 and the Nasdaq Composite added 9.71 points, or 0.13 per cent, to 7,307.91.
(with Reuters input)