The market opens on a mute note. The Sensex is down 20.04 points at 19557.35 while the Nifty is 5885.50, down 13.35 points . About 175 shares have advanced, 108 shares declined, and 32 shares are unchanged. India’s benchmark index is down 0.1 percent while NSE stock index falls 0.18 percent after closing at their highest in nearly a month on Monday.

Dealers are worried whether a 3-day rally could sustain as foreign investors sold cash shares on Monday as per NSE data, while volumes on the NSE stock markets index fell to their lowest since June 19. Infosys Ltd down 0.8 percent on worries around the immigration bill and its FY14 revenue guidance, dealers say.

Tata Motors Ltd falls 1.5 percent after company said in a statement on Monday that its June sales fell 18 pct to 52,708 units. The Sensex is down 23.26 points at 19554.13, and the Nifty is down 10.75 points at 5888.10.  About 724 shares have advanced, 405 shares declined, and 57 shares are unchanged.

Gems and jewellery shares are unlikely to regain their record high levels anytime soon, feels Gautam Chhaochharia of UBS. Jewellery shares have taken a beating over the last couple of months ever since the Reserve Bank of India started putting curbs on gold imports. The market opens on a mute note. The Sensex is down 20.04 points at 19557.35 while  the Nifty is 5885.50, down 13.35 points . About 175 shares have advanced, 108 shares declined, and 32 shares are unchanged.

Indian rupee opened flat at 59.50 per dollar on Tuesday as against Monday’s closing value of 59.52. Himanshu Arora of Religare says surge in dollar demand from state-run banks, mainly from oil importers, and demand from custodian banks may support the dollar’s uptrend.  According to him, the range for the rupee is seen between 59.30-59.90/USD.

The euro was flat above 1.30 to the dollar. The dollar index was just above the 83 mark. Meanwhile, yen remained weak against the dollar. US markets eased off their best levels, but still kicked off the first day of the third quarter with a modest rally, boosted by a pair of better-than-expected economic reports. The CBOE volatility index slipped near 16. So far for the year, the Dow has surged more than 14 percent, while the S&P 500 and Nasdaq have spiked more than 13 percent each. US treasury prices continued below 2.50 mark.