The Indian market continued to trade lower on Tuesday, dragged by oil marketing companies along with IT and pharma stocks. In addition, weak Asian cues amid rising geopolitical concerns further dented investors' risk appetite.

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The Sensex traded lower by 176 points, at 33,958, while the Nifty50 was below 10,200 levels, trading at 10,179, slipping by 66 points at 11.40 am.

Broader markets also declined with the Nifty MidCap trading lower by 0.75 percent. The BSE MidCap index also slipped by 0.80 percent.

Among sectoral indexes, only five sectors advanced against 38 declining. Among declining sectors, BSE Oil & Gas fell the most by 2.01 percent, while BSE IT, Nifty Pharma, Nifty IT and BSE Teck were other major losers falling by up to 1.6 percent.

BSE Realty was leading the pack of 5 gaining sectors, rising by 0.45 percent, while BSE Consumer Durables and BSE Finance gained modestly.

Among top gainers, Indiabulls Housing Finance rose nearly 5 percent, HDFC gained more than 2 percent and Tata Motors rose by 1.76 percent. Coal India, Yes Bank and IndusInd Bank were also up by 1.42 percent.

Shares of Asian Paints slipped to 7-month low after reporting weak earnings for July-September quarter. Other laggards were Wipro, Sun Pharma, BPCL, Infosys and ONGC.

Oil marketing companies fell after Nomura downgraded all three stocks to ‘neutral’ from ‘buy’, citing concerns over confidence on marketing reforms.

The Indian rupee traded at 73.79 against the US dollar at 11.54 am. The home currency had opened at 73.70 against the greenback.

Asian shares extended losses with Hong Kong's Hang Seng index down by more than 3 percent, or over 800 points. Japan's Nikkei shed more than 600 points, or 2.7 percent.

South Korea's Kospi also fell 2.8 percent, while Shanghai Composite Index slipped by 2.26 percent.

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First Published:Oct 23, 2018 12:30 PM IST