The Nifty and the Sensex opened in the red following Asian cues as Asian markets declined for the fifth consecutive trading session.
The Nifty opened at 5,315.25, down 30 points while the Sensex opened at 17,553.97, down 64 points.
Concerns of slowing global growth will reduce the demand for products from computer chips to air travel, said an SMC Global report.
Dealers felt that the US was being dragged down by the Euro Zone crisis. The earnings season will determine the direction in which the market will move, they said.
HDFC, CMC and UFlex will announce their Q1 FY13 results today.
The rupee opened at 55.72 to a US dollar down 34 paise over its previous close of 55.38.
Volatility was up 1.4 per cent and the volatility index India Vix was at 18.08.
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