Nifty slips below 6,300 on profit taking

IT and select banks were among the top Sensex losers in early trades

India's benchmark share indices opened marginally lower on Tuesday amid profit taking at higher levels after strong gains in the past few sessions.

At 9:25AM, the Sensex was down 118 points at 21,121 and the Nifty was down 32 points at 6,285.

The Indian rupee was quoted at Rs 61.85 down 11 paise against the US dollar in early trades.

Stocks in Asia pared early gains and were trading mixed on Tuesday with China's Shanghai Composite losing the most. The Nikkei was trading flat while the Straits Times was up 0.1%. China's Shanghai Composite was down nearly 1% while Hang Seng was down 0.7%.

Stocks on Wall Street ended with marginal gains amid a volatile trading session on Monday.  The Dow Jones industrial average ended up 24 points, or 0.1%, to end at 15,639.12. The Standard & Poor's 500 Index closed 6 points, or 0.4% higher, at 1,767.93. The Nasdaq Composite Index edged up 15 points or 0,4%, to end the session at 3,936.59.

Key European shares ended higher on Monday on better-than-expected manufacturing PMI from Germany, UK construction PMI jumped to a 6-year high in October. The CAC-40 gained 15 points to end at 4,288.59, the DAX rose 29 points to end at 9,037.23 while the FTSE-100 ended 29 points higher at 6,763.62.

IT and select bank shares were among the top Sensex losers. Infosys, TCS, ICICI Bank and SBI and ITC were among the top losers.

BHEL was down 1% ahead of its Q2 earnings on Wednesday.

Reliance Industries was among the Sensex gainers along with HDFC and Tata Motors.

In the broader market, the BSE Mid-cap and Small-cap indices were marginally down.

Market breadth was marginally negative with 458 losers and 408 gainers on BSE.