Equity benchmark indices opened higher on Tuesday as the rally was led by Reliance Industries. However, the rally was capped by HDFC twins, Infosys, ITC and Airtel.
The Bank Nifty slipped nearly 1% at 28,147.30 levels. HDFC Bank, Federal Bank, ICICI Bank, and Kotak Mahindra Bank fell in the range of 1-2% respectively.
Shares of Reliance Industries surged 9% on the NSE. The company at its AGM held on Monday announced that Saudi Aramco has signed a letter of intent for a proposed investment RIL’s oil to chemical division and this would be one of the largest foreign investments ever made in India.
On the economy front, the CPI inflation data for the month of July along with the data on balance of trade are scheduled to be released today.
The Indian rupee slipped by 36 paise at 71.14 per dollar vs. Friday's close 70.78/$.
Meanwhile, Asian shares were trading lower due to the weak sentiment arising from the US-China trade war and turbulence amongst protesters in Hong Kong.
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