Indian equity benchmark indices opened falt with a negative bias on Tuesday dragged by seeling in banking and IT stocks amid mixed global cues.

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At 9:15 am, the Sensex opened 0.07 percent, or 33.93 points, higher at 46,287.39, while the Nifty50 index opened at 13,547.20, up 10.95 points, or 0.08 percent.

Broader markets traded mixed with Nifty Smallcap100 up 0.09 percent and Nifty Midcap100 indices down 0.11 percent.

Barring Nifty Pharma, all the sectoral indices were trading in the red with the Nifty PSU Bank declining the most followed by Nifty IT, Nifty Metal and Nifty Auto.

Axis Bank, ONGC, Mahindra & Mahindra, Tata Motors and Asian Paints led the decline among Nifty50 constituents while Eicher Motors, NTPC, HDFC Life Insurance, HDFC Bank and UPL were the top index gainers.

Kotak Mahindra Bank shares gained after RBI approved the re-appointment of Uday Kotak as MD & CEO of the bank for 3 years w.e.f January 1, 2021. RBI has also approved the re-appointment of Prakash Apte as part-time Chairman and Dipak Gupta as Joint MD of the bank for 3 years.

The stock price of Majesco rallied over two percent after it announced the payment of Rs 974 per share interim dividend for the financial year 2020-21.

Globally, Asian stocks drifted lower on Tuesday as worries about increasing COVID-19 deaths and lockdowns overshadowed optimism about the roll-out of coronavirus vaccinations, Reuters reported.

Most Asian markets retreated in early trade, with MSCI's index of Asia-Pacific shares outside Japan falling 0.4 percent, having hit a string of record highs last week. E-mini futures for the S&P 500 rose 0.1 percent.

Chinese stocks were down 0.2 percent. Markets in Japan and South Korea, both grappling with surging infection numbers and growing public frustration, slipped 0.2 percent and 0.3 percent. Hong Kong gave up 0.5 percent.

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