Sensex, Nifty Extend Losses

Indian shares were moving lower on Tuesday to extend losses from the previous session, mirroring weak global cues.

The benchmark S&P BSE Sensex fell 262 points, or 0.69 percent, to 37,772 in early trade, while the broader NSE Nifty index was down 105 points, or 0.94 percent, at 11,145.

Tata Motors, GAIL, BPCL, Adani Ports and Zee Entertainment Enterprises tumbled 4-6 percent, while IT stocks such as TCS, HCL Technologies and Tech Mahindra rose around 1 percent.

Bharti Airtel dropped more than one percent and Vodafone Idea tumbled 5.3 percent on a PTI report that telecom operators have to pay 10 percent of their pending AGR dues by March 31.

Shares of Reliance Industries fell over 1 percent. Telecom operator Reliance Jio said that it is currently working on "fine-tuning" its 4G network to prepare for 5G services.

Indian Oil Corporation gave up over 2 percent on news it will invest Rs 17,825 crore in its Gujarat refinery.

HCL Technologies rose 0.9 percent after it proposed to acquire Australian IT services firm DWS for A$158.2 million.Birla Corp slid half a percent, a day after the Calcutta High Court directed the removal of its Chairman.

HDFC Bank edged down slightly. The private sector lender denied the allegations of misleading claims levelled by a U.S.-based law firm to seek damages in a class action suit.

Reliance Capital slumped 4.3 percent on news it has begun asset monetization process.

SBI Life Insurance tumbled 2.4 percent. The company has signed a pact to offer a diverse range of individual and group insurance solutions to the customers of Yes Bank.

Route Mobile, which made a strong debut in stock market on Monday, declined 2 percent.