The Asian Development Bank maintained the growth forecast for the current fiscal at 7.3 per cent.

The predicted rate hike would be the RBI's third this year, having lifted borrowing costs in June and August.

While the Sensex was trading 42 points or 0.12% higher at 36,694, the Nifty gained 30 points or 0.26% at 11,096 level. Top Sensex gainers were Axis Bank (1.10%), Tata Steel (1.01%) and HDFC (0.72%).

The move will help refiners in Iran's second biggest oil market to boost purchases from alternative sources as US President Donald Trump prepares to halt Iranian oil sales through a new set of sanctions from November 4.

Going by the past 17 trading sessions, the bears are now out roaring. The BSE Sensex has dived 6% since August 29, when it hit a peak of 38,989.65.

Brent crude oil prices were trading at over four-year highs and inched closer to $82 per barrel ahead of impending US sanctions on Iran.

Partha Ghosh, an executive director at Indian Oil Corp, said that oil demand will increase globally by 15.8 million bpd from now until 2040.

As per Indian Oil's daily pricing list for Tuesday, petrol has reached over Rs 91 in several districts of Maharashtra, with state capital Mumbai witnessing few paise jump to Rs 90.22 per litre.

Minutes after opening, the 30-share index fell 124.63 points, or 0.34 per cent, to 36,180.39, after touching a high of 36,454.03 at the outset. Similarly, the NSE Nifty fell by 33.40 points, or 0.30 per cent, to 10,934.

The Indian currency started 26 paise lower at 72.89 per dollar on negative global cues.  On Monday, the rupee rose marginally higher against the US dollar but pared gains in late trade to close 43 paise lower at 72.63 level.

Financial market regulator Sebi is reportedly examining sharp movement in shares of Dewan Housing Finance Corp. Ltd (DHFL), Yes Bank Ltd. and other lenders for possible trading irregularities.

Brent breached the $80 per barrel mark on Monday and analysts at the American brokerage said they expect it to go up further to $95 by June 2019, which will put pressure on the current account.

Dewan Housing Finance stock rises up to 24.80 per cent; WhatsApp takes key measure to curb fake news, appoints grievance officer for India; US, China impose fresh tariffs with no trade talks in sight; and RBI shortlists Infosys, TCS, 3 other IT firms to implement CIMS. Watch more in this episode of Business Wrap.

The Sensex and Nifty closed nearly 1.5% lower in trade today amid a depreciating rupee, rising crude oil prices and selling pressure on stocks of non-banking financial companies (NBFCs).  On the global front, China reportedly rebuffed a plan for talks with the US on resolving their dispute over trade and technology which roiled Asian stocks.While the Sensex closed 536 points or 1.46% lower to 36,305, the Nifty lost 175 points or 1.58% to trade at 10,967 level.Sentiments remained distinct...

The stock of the Tata Group firm hit 2,214.15 level  its highest ever in trade today after the rupee weakened 29 paise to 79.42 level against the dollar in early trade as the greenback gained overseas. The home currency then closed 43 paise lower at 72.63 level to the dollar in trade today.

The refinery officials' plan to cut imports illustrates that rising crude prices and emerging market currency weakness may start causing oil demand to decline in a number of markets that have so far seen healthy crude consumption.

While the Sensex closed 536 points or 1.46% lower to 36,305, the Nifty lost 175 points or 1.58% to trade at 10,967 level. This is the weakest closing since July 11 when it settled at 36,265.93. The Sensex has lost 1,249.04 points in the previous four sessions.

Brent crude, the international oil benchmark, jumped 2.6 per cent on Monday, its highest since 2014, after Saudi Arabia-led OPEC and Russia stopped short of pledging to boost crude output ahead of US sanctions on Iran.

While the SpiceJet stock fell up to 4.15% to 73.85 level  in afternoon trade,  the InterGlobe Aviation stock was down up to 6.011% to 851 level on the BSE.  

While the Sensex was trading 519 points or 1.41% lower, the Nifty lost 170 points or 1.53% to trade at 10,971 level. Top losers on the index were M&M (6.85%), Adani Ports (5.93%), Bharti Airtel (5.44%) and HDFC (5.34%).