Equity market declines marginally in early trade

The 30-scrip Sensitive Index (Sensex) and broader 50-scrip Nifty on the National Stock Exchange (NSE) were a tad down in early trade on Tuesday.

At 10.05 a.m., Sensex traded at 60,321 points, down 0.1 per cent from its previous close of 60,395 points. It opened at 60,342 points.

Similarly, Nifty traded at 17,979 points, down 0.1 per cent from the previous close of 18,003 points. It opened at 17,997 points.

Among the stocks, JSW Steel, Tata Steel, Bajaj Finance, Asian Paints, Kotak Mahindra Bank were some of the top losers during the early trade, NSE data showed.On the contrary, HCL Technologies, Sun Pharma, HDFC, NTPC and Divi's Labs were some of the top gainers.

"...an area of serious concern is the unbridled speculation in low-grade stocks, the cats and dogs. 'Flying cats and dogs' is an indication of imminent correction. Chasing cats and dogs has always ended in grief. Therefore, investors have to be careful and stick to quality," said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.-IANS