Banking, cement and telecom shares were under pressure today. Reliance Communications led the decliners plunging 1.8% to Rs 543 and HDFC Bank dipped 1.7% to Rs 1,148.

In cement stocks, Grasim lost 1.5% to Rs 2,727 and Ambuja Cements dropped 1.4% to Rs 130. Engineering and construction company Larsen & Toubro shed 1.1% to Rs 2,389, separately company was awarded Rs 542-crore order from Indian Oil Corporation.

SBI slipped 1.3% to Rs 1,551 and Bharti Airtel also dropped nearly 1.3% to Rs 872. Index heavy Reliance Industries lost 0.5% to Rs 1,702.


6:30AM European markets are lower Tuesday dragged by poor performance by Home Depot.

All three major bourses were lower on Tuesday.

In London, FTSE 100 shed 0.2% at 6,700.80. U.K. stocks fell, led by Antofagasta, Xstrata and BHP Billiton Ltd. as copper prices reversed earlier gains in Asia. BHP Billiton dropped 1.2%. Marks & Spencer Group limited declines after the company beat analysts estimates and advanced 2.9%. Next also advanced 1.3%. Unilever climbed 3.7% amid takeovers in the food industry. Wolseley slipped 2.3% after U.S.-based Home Depot lowered its profit forecast.

In Germany, DAX 30 lost 0.3% at 8,051.82. DaimlerChrysler gained 1.8% as UBS raised its price target to 90 euros from 75 euros and kept its buy rating. The broker suggested six ways to improve Daimler truck division, including a sale of its Japanese business Fuso and job reductions in Germany.

In France, the CAC 40 dipped 0.3% at 6,085.28. Carrefour declined 0.8% ahead of the release of the first-quarter revenue of the French supermarket chain, due out after the Paris close. In another development, Groupe Danone offered to buy Royal Numico $16.8 billion in cash to gain the biggest share of the baby-food market in Europe. Numico shot up 23.5%, while Danone lost 1%.