Sensex, Nifty Open On Subdued Note After Strong Rally

Indian shares opened modestly lower on Tuesday after big gains the previous day.

The benchmark BSE Sensex was down 56 points or 0.17 percent at 34,010 in early trade after climbing over 2 percent in the previous session to rebound from seven-month lows. The broader Nifty index was down 25 points or 0.25 percent at 10,225.

BPCL tumbled 3 percent after its second-quarter profit almost halved, missing Street estimates.

Union Bank of India advanced 0.8 percent after posting turnaround results in the second quarter on the back of lower provisioning.

Just Dial soared 7 percent on reporting a 29 percent increase in quarterly profit.

HDFC AMC gained 1.6 percent after unveiling its quarterly results.

Bharti Airtel edged up slightly after reports that it may delay the IPO of its Africa business.

HDFC Bank was little changed after it received RBI approval to retain Aditya Puri as CEO for two more years.

BHEL rose around half a percent and Redington rallied 2.6 percent on share buyback news.

Jet Airways, which is seeking to raise fresh funds to improve its liquidity, jumped 3 percent.

Cadila Healthcare edged up slightly after it acquired majority stake in Windlas Healthcare.