Error initializing the dependency resolver for .NET Core

Question

I'm trying to run a simple .NET Core 1.0.1 application on Visual Studio 2015 Update 3 :

namespace MyFirstDotNetCoreApp
{
    public class Program
    {
        public static void Main(string[] args)
        {
            Console.WriteLine("Hello .Net Core");
            Console.ReadLine();
        }
    }
}

but it fails to build with below mentioned error:

Error initializing the dependency resolver: A fatal error was encountered, missing dependencies manifest at: C:\Program Files\dotnet\shared\Microsoft.NETCore.App\1.0.1\Microsoft.NETCore.App.deps.json

I can see that the json file in the error message isn't present at this location but not sure from where to get this? I can see this directory C:\Program Files\dotnet\shared\Microsoft.NETCore.App\1.0.1 is full of other .NET core dependency assemblies.

I googled a bit but didn't get much help on this error.

Update: I tried repairing the installation using DotNetCore.1.0.1-VS2015Tools.Preview2.0.3.exe file I had got from .NET core downloads page but it fails with following error: