Sensex falls over 100 points, PSU bank stocks trade lower

Indian shares traded slightly lower on Tuesday, weighed down by market heavyweights such as Reliance Industries and Infosys, with investors now focussed on September-quarter GDP data, due on Thursday, Reuters reported.

Analysts anticipate volatility in the markets amid hopes of a recovery in GDP for the quarter, especially since economic growth slid to a three-year low in April-June.Asian shares also fell, stepping back from decade highs as Chinese stocks stumbled for a second straight session.

MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.3%. BSE Sensex traded lower by 115.88 points, or 0.34%, at 33,608.56, while the Nifty 50 fell 43.35 points, or 0.42%, to 10,356.20. The rupee was trading at 64.40 a dollar, up 0.16% from its Friday's close of 64.50. The rupee opened at 64.49 a dollar and touched a high of 64.36-a level last seen on 20 September.After hitting 15 month high, bond yield fell marginally. The 10-year bond yield was at 7.055%, compared to its previous close of 7.056%. Bond yields and prices move in opposite directions.

Bharat Heavy Electricals Ltd (BHEL) said it has won an order for setting up six decentralised sewage treatment plants in Raipur, Chhattisgarh, reported Reuters. Shares were up 1.52% to Rs93.45. Jindal Drilling and Industries Ltd said it has received a contract from Oil and Natural Gas Corp. Ltd for charter hire of offshore drilling rig.

The company's shares rose 2.35% to Rs165.50. BSE Sensex traded lower by 69.37 points, or 0.21%, at 33,655.07, while the Nifty 50 fell 15.75 points, or 0.15%, to 10,383.80. Maruti, Tata Steel, HDFC and Coal India were the top gainers with gains to the tune of 1.16%, 0.98%, 0.94% and 0.61%, respectively.

Meanwhile, shares of NTPC, ONGC and Power Grid fell 1.29%, 1.25% and 1.21%, respectively. GMR Airports Ltd, which operates India's largest airport in New Delhi, is meeting investment bankers across three days, starting Monday, as it prepares to launch its initial share offering (IPO) planned by June, a person aware of the matter told Mint. BSE Sensex traded lower by 31.10 points, or 0.09%, at 33,693.34, while the Nifty 50 fell 3.40 points, or 0.03%, to 10,396.15.

Time Technoplast Ltd rose 5.4% to Rs197.50 after Brokerage firm ICICI Direct initiated buy rating with price target of Rs230 a share. Mahanagar Gas Ltd rose 2% to Rs1,125.55 after brokerage firm Motilal Oswal initiated Neutral rating with price target of Rs1,219 a share. Rallis India Ltd rose 5% to Rs241.10 after Franklin Templeton mutual fund bought 17.81 lakh shares, or 0.9% stake, at Rs230 each.

The Bharat 22 exchangetraded fund (ETF), operated by ICICI Prudential Asset Management Co., rose as much as 3.5% on its debut on Tuesday, after the issue saw a robust response earlier this month. Reliance Communications Ltd fell 7% to Rs12.45 after China Development Bank has become the first lender to file a case against debt-ridden Reliance Communications Ltd (RCom) under the Insolvency and Bankruptcy Code.