The Sensex on Friday had logged the best weekly gain since October previous year by surging 3.14 per cent. Trading stayed in the positive zone for the better part of the day. Intra-day, it moved between 23,851.51 and 23,361.94.
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The index had risen about 597 points in the past four sessions.
Mumbai: Caution-selling, combined with profit-booking and negative global indices, dragged the Indian equity markets lower during the mid-afternoon trade session on Tuesday.
The government is desirous of pushing through major economic legislations like bankruptcy code and Goods and Services Tax (GST) Bill during the ongoing Budget session. Asian Paints managed to buck the downtrend ending up marginally at Rs 874.30 (up 0.4 per cent).
The benchmark BSE Sensex fell by over 184 points and the NSE Nifty dropped below the 7,200-mark in early trade on Tuesday due to profit-booking by investors after recent gains amid a lacklustre trade in Asian markets.
Positive global cues and strength in oil and gas, pharma, metals and a few bank stocks held up the market sentiment.
The data with stock exchanges showed that FIIs divested Rs.289.66 crore, while the DIIs bought stocks worth Rs.257.93 crore.
NTPC ended 3.04 per cent down despite the institutional investor portion of its 5 per cent stake sale getting oversubscribed within two hours of opening of the trade.
Oil prices took back some of the lost ground in Asia on Monday after a steep fall in the previous session, with United States crude back above United States dollars 30 a barrel, as traders analysed the impact of a potential freeze by key producers.
In the Asian region, Hong Kong’s Hang Seng was trading lower by 0.62 per cent and Shanghai Composite Index was down 1.26 per cent in early trade.
Oil retailer stocks Bharat Petroleum Corp, Hindustan Petroleum Corp and Indian Oil Corp fell between 2 and 3 per cent amid concerns that government may impose customs duty on crude oil imports in the budget.
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The total turnover rose to Rs 2,592.79 crore, from Rs 1,928.99 crore yesterday.
