European stock markets ended lower Monday, amid weak sentiment across the globe, as traders looked ahead to key central bank meetings due towards the end of the week.
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The 30-scrip Sensitive Index (Sensex), was trading 20.81 points or 0.08 percent up during the morning session.
The wider 50-scrip Nifty of the National Stock Exchange (NSE) was trading 109.30 points or 1.39 percent higher at 7,964.35 points.
Tracking a global recovery and aided by a rebound in oil prices, the benchmark BSE Sensex on Tuesday rallied over 328 points as it reclaimed the 26,000-mark to close at about 4-month high of 26,007 on across-the-board buying in blue-chips.
The Sensex has so far touched a high of 25,891.03 points and a low of 25,585.93 points during the intra-day trade. The S&P 500 index lost three points, or 0.2% to 2,087.
Investors also remained on tenterhooks as derivatives contracts are set to expire this Thursday.
The losers included Hero MotoCorp, Adani Ports, Reliance, Bajaj Auto and Dr Reddy’s.
Apart from persistent profit-booking by investors in recent outperformers, a weak trend at other Asian markets ahead of US Federal Reserve’s two-day policy meeting beginning later in the day pulled the indices down, brokers said.
Maruti Suzuki, ONGC, NTPC, Tata Steel, HDFC Ltd, BHEL, ITC, Sun Pharma and Tata Motors all fell.
Asian markets opened lower on on Tuesday, as investors braced for central bank policy meetings in the United States and Japan later this week.
While Hong Kong’s Hang Seng was down by 1% and Japan’s Nikkei fell by 1.26%, the Shanghai Composite Index was quoting 0.28% lower.
Besides, depreciation in rupee values against the dollar and persistent selling by domestic financial institutions have also negatively impacted sentiments.
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The BSE market breadth was heavily tilted in favour of the bears – with 1,580 declines and 952 advances.
