Market slips in opening trades on global cues

Market opened flat to negative tracking weak Asian markets amid other global cues. Asian stocks are under pressure on Tuesday after ralllying for eight days after robust US manufacturing data yet again fuelled fears that the US Federal Reserve may scale back its stimulus sooner than anticipated.

The 30-share Bombay Stock Exchange (BSE) Sensex opened 63 points lower at 20,834 levels while broader 50-share Nifty of the National Stock Exchange (NSE) was at 6196 down 21 points in opening trades.

Asian markets are lower today as Chinese and Hong Kong shares fall. The Shanghai Composite is off 0.13% while the Hang Seng is down 0.63%. The Nikkei 225 is not trading.

The Dow Jones was off 77.64 points, or 0.48%, to close at 16,008.77, while S&P 500 declined 4.91 points, or 0.27%, to close at 1,800.90.  The Nasdaq Composite Index fell 14.63 points, or 0.36%, to close at 4,045.26.

Dollar earning IT companies will remain in focus post positive economic data coming out of US.

Select auto stocks will be in focus after Mahindra & Mahindra, Tata Motors, Maruti Suzuki and Toyota Kirloskar Motors reported a fall in passenger vehicle sales in the domestic market in November.

Coal India and BHEL will be in spotlight on the back of disinvestment news .

Watch out for Power Grid Corporation of India as the FPO issue opens today.

Wipro may see an uptick as the company is set to acquire US-based Opus CMC  for $75 mn.