Markets open in red for 2nd day; banking, auto stocks major drags

New Delhi: Markets opened on a negative note on Tuesday led by losses in banking and auto stocks amidst gloomy global cues.

The BSE Sensex fell 103.60 points or 0.28 percent to 37,019.71 while the NSE Nifty dropped 34.90 points or 0.31 percent to 10,969.50 in early trade.

Major losers in the Sensex pack were HCL Tech, Tech Mahindra, Axis Bank, Heromoto Corp, Bajaj Auto, M&M, HDFC, Bharti Airtel, TCS, Tata Motors, Maruti and ICICI Bank, falling upto 1.76 percent. On the other hand shares of Vedanta, Yes Bank, Asian Paint, ONGC, Tata Steel, HUL, SBI, IndusInd Bank and ITC were the major gainers, rising upto 1.99 percent.

In the previous session on Monday, the BSE Sensex dropped 261.68 points or 0.70 percent to 37,123.31while the NSE Nifty closed 72.40 points or 0.65 percent down at 11,003.50.

Among Asian peers, MSCI`s broadest index of Asia-Pacific shares outside Japan was down 0.6%. Chinese shares fell 0.85%, while Australian shares were down 0.27%.