Key Indian equity indices opened on a flat note with nominal losses on Tuesday.
Around 9.16 a.m., the wider Nifty50 of the National Stock Exchange (NSE) fell by 19.75 points or 0.19 per cent to trade at 10,192.05 points.
The barometer 30-scrip Sensitive index (Sensex) of the BSE, which opened at 33,197.42 points, traded atA 33,253.12 points -- down 2.24 points or 0.01 per cent from its previous session's close.
The Sensex has so far touched a high of 33,253.12 points and a low of 33,158.59 points.
The BSE market breadth was bearish with 493 declines and 452 advances.
On Monday, broadly positive global peers, along with robust automobile sales data, lifted the key indices.
The NSE Nifty50 rose by 98.10 points, or 0.97 per cent, to close at 10,211.80 points, while the Sensex of the BSE closed at 33,255.36 points -- up 286.68 points, or 0.87 per cent.
Chinese yuan weakens against US $
The central parity rate of the Chinese currency renminbi, or the yuan, weakened 69 basis points to 6.2833 against the US dollar on Tuesday, according to the China Foreign Exchange Trade System.
In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 per cent from the central parity rate each trading day, Xinhua news agency reported.
The central parity rate of the yuan against the US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.
US stocks ended lower
US stocks ended lower on Monday, the first trading day in April, as worries about trade issues and a sharp decline in the technology sector weighed on the market.
The Dow Jones Industrial Average lost 458.92 points, or 1.90 per cent, to 23,644.19. The S&P 500 decreased 58.99 points, or 2.23 per cent, to 2,581.88, Xinhua news agency reported.
The Nasdaq Composite Index was down 193.33 points, or 2.74 per cent, to 6,870.12.
China suspended tariff concessions on 128 items of US products including pork and fruits starting Monday, according to the Ministry of Finance.
The Customs Tariff Commission of the State Council has decided to impose a tariff of 15 per cent on 120 items of products imported from the US including fruits and related products, and a tariff of 25 per cent on eight items of imports including pork and related products from the country, according to a statement posted on the ministry website.
The statement said it was a countermeasure in response to a previous US move to slap tariffs on steel and aluminium imports.
Despite worldwide objections, the US administration decided to impose a 25-per cent tariff on steel imports and a 10-per cent tariff on aluminium, with tariffs on imports from countries including China.
A sharp decline in tech sector, leading by Amazon, also rattled nervous investors.
Shares of Amazon slumped nearly 6 per cent in the late trading on Monday after US President Donald Trump tweeted on Saturday that Amazon was scamming the US Postal Service, adding the service loses "billions of dollars" delivering packages for the e-commerce giant.
On the economic front, the Purchasing Managers Index (PMI) decreased 1.5 percentage points from the February reading of 60.8 per cent to 59.3 per cent in March, missing market estimates, the Institute for Supply Management (ISM) reported on Monday.