Market opens flat to negative

Markets opened flat to negatove after a stellar state poll resuts rally yesterday which saw bechmarks end at their life-highs. Investors are likely to take some profits off the table on Tuesday.

The 30-share Bombay Stock Exchange (BSE) Sensex opened at 21,308 levels down almost 14 points while the broader 50-unit Nifty index of the National Stock Exchange (NSE) opened at 6357 levels down 6 points.

At 9.20am, the SGX Nifty is up 26 points at 6,417.

In Asia, stocks edged up in early Asian trade on Tuesday, while tighter money market conditions in the euro zone drove the euro close to a five-year peak against the yen and a six-week high against the dollar.

MSCI's broadest index of Asia-Pacific shares outside Japan was slightly higher, though trading was cautious ahead of next week's U.S. Federal Reserve meeting.

Overnight in US markets, Stocks edged higher on Monday, with the S&P 500 closing at a record high, as traders awaited more clues from the Federal Reserve on whether the U.S. central bank would soon begin winding down its economic stimulus.

Volume was light and a volatility index fell, signaling calm among traders. The Dow industrials traded within 43.11 points from session high to intraday low, in the Dow's tightest daily range since August 17, 2012.

The Dow Jones industrial average rose 0.03 percent, to finish at 16,025. The S&P 500 gained 0.18 percent, to end at 1,808, a record closing high. The Nasdaq Composite added 0.15 percent, to close at 4,069.