Opening Bell: Nifty slips below 15,800 led by losses in Asian Paints, Titan Company and Tech Mahindra

Amid sectoral indices, Nifty Financials, Consumer Durables, IT, and pharma were the top laggards, while oil & gas and PSBs were trading in the green.

Bajaj Auto fell 2 percent after the board approved share buyback worth up to Rs 2,500 crore. The company intends to buy back 5.43 million shares, aggregating up to 1.88 per cent of its paid-up share capital via the open market at Rs 4,600 per share.

Moody's upgraded Tata Steel's outlook to 'positive' from 'stable' on strong operational performance backed by healthy liquidity position.

Major markets in Asia-Pacific, too, traded mixed as COVID-19 clampdown drowned hopes of robust recovery. While Hong Kong's Hang Seng index 0.7 percent, Japan's Nikkei 225 advanced 0.4 percent.

The US equity markets turned muted after all major indexes in the Wall Street dropped in trade on Monday. Dow Jones slipped 0.2 percent, the S&P 500 dropped 0.3 percent, and NASDAQ Composite fell 0.7 percent.