Opening Bell – Markets opens flat with marginal negative bias

At 9:15 am the BSE Sensex opened at 31091 down by 4 points, while the Nifty50 opened down by 1 point at 9615 mark.
 
Sun Pharma is the top Nifty gainer and Tech Mahindra is the top Nifty loser in the morning hours. Sun Pharma is trading at Rs 546.95 per share up by 2.70% whereas Tech Mahindra is trading at Rs 394.20 per share, down by 0.78%.
 
There are 1003 advances, 410 declines and 485 unchanged stocks on NSE reflecting some positive bias floating in the market.
 
The rupee opened at 64.43 per US dollar higher by 1 paise on Tuesday. The rupee closed over one week low against the US dollar tracking losses in the global equity and currencies markets. The rupee closed at 64.44, a level last seen on 1 June, down 0.29% from its Friday’s close of 64.25.
  
Immediate support for the Nifty50 index is placed around the level of 9,580, and if it holds below this level, further correction up to the level of 9,550 is likely. On the upside, the levels of 9,640-9,650 is likely to act as a resistance for the Nifty50, if it holds above the levels of 9,640-9,650, it may scale up to the level of 9,700.
 
The US stocks fell on Monday as the tech sector extended losses. The tech-heavy Nasdaq underperformed its counterparts. The Nasdaq Composite Index slumped 32 points to close at 6,175. The Dow Jones Industrial Average slid 36 points to end at 21,235. The S&P 500 dipped 2 points to close at 2,429.
 
Asian shares are trading mixed in early trade on Tuesday. Japan’s Nikkei 225 has been trading with loss of 10 points; Hong Kong’s Hang Seng has gained 63 points, while China’s Shanghai Composite has shed 7 points.