Indian shares opened flat on Tuesday, and soon extended losses dragged by shares of banking and financial services companies. Negative sentiment in Asian markets and caution amid March-quarter earnings season also added losses.

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At 10 AM, the BSE Sensex traded 285.60 points, or 0.73 percent, lower at 38,781.73, and the Nifty 50 was down 91.70 points, or 0.78 percent, at 11,662.95.

All the sectoral indices, except the Nifty IT, traded lower, with the Nifty PSU Bank losing most at nearly 4 percent. The Nifty Realty fell 3 percent followed by auto, metal and pharma which fell 1 percent to 2 percent.

Shares in Asia fell despite another record high close for US stocks, as investors await US Federal Reserve's policy decision for clues of whether it will continue to take a "patient" approach to interest rate policy.

YES Bank cracks 30 percent after the bank on Friday reported a net loss of Rs 1,506.6 crore for the period ended March 31, compared to a net profit of Rs 1,179.44 crore a year ago.

IndusInd Bank, Sun Pharma, Vedanta and Indiabulls Housing Finance were among the major losers on the key indices. Asian Paints, HCL Tech, HDFC Bank, Hindustan Unilever and Infosys were top gainers.

HeroMoto fell 2 percent after it posted a 24.51 percent year-on-year fall in profit at Rs 730.32 crore for the quarter ended March 31. The figure stood at Rs 967.40 crore in the corresponding quarter last year.

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First Published:Apr 30, 2019 10:12 AM IST