Sensex in red amid heavy fund outflow

Mumbai: The Sensex traded slightly lower amid heavy outflow of foreign funds on Tuesday and caution ahead of key quarterly results.

Monday saw the Foreign Institutional Investors (FIIs) selling nearly Rs 2,000 crore worth of stocks, the highest single day selling this month.

On Tuesday later, FMGC major Hindustan Unilever, Larsen & Toubro, Zee Entertainment are scheduled to announce their corporate earnings.

At 9.48 a.m.,the Sensex fell 20.60 points lower at 38,010.53 from its Monday’s close of 38,031.13.

The Nifty traded 7.30 points lower at 11,338.90

Globally, Deepak Jasani of HDFC Securities said that expectations of policy easing by major central banks such as the Federal Reserve propped up global stocks on Tuesday.

Asian stocks, Jasani added opened modestly higher as investors braced for a busy week of US corporate earnings and potential developments in trade negotiations.