Key Indian equity indices on Tuesday closed on a lower note -- snapping a three-day gaining streak -- as rising crude oil prices, along with negative global cues and profit booking in rate-sensitive stocks, hampered investors' risk-taking appetite.According to market observers, investors traded with caution ahead of the release of macroeconomic data points -- the Consumer Price Index (CPI) and Index of Industrial Production (IIP) data -- to be released later during the day.On a closing basis, the wider Nifty50 of the National Stock Exchange (NSE) edged lower by 82.10 points or 0.80 per cent to 10,240.15 points.The barometer 30-scrip Sensitive Index (Sensex) of the BSE closed at 33,227.99 points -- down 227.80 points or 0.68 per cent -- from its previous close.The BSE market breadth was bearish -- 1,701 declines and 982 advances."Markets corrected on Tuesday after three sessions of gains. The weakness came on the back of surging crude oil prices and negative Asian markets" Deepak Jasani, Head, Retail Research, HDFC Securities, told IANS."The Sensex and Nifty traded in the negative territory throughout the session after a weak opening. Index heavyweights ITC, Tata Consultancy Services (TCS), Larsen and Toubro, HDFC Bank and Coal India dragged the indices lower," he added.
In the broader markets, the S&P BSE mid-cap index closed lower by 1.01 per cent and the small-cap index by 0.68 per cent.On the currency front, the rupee weakened by four paise to close at 64.40 against the US dollar from its previous close at 64.36."Indian equities turned cautious as investors looked forward for macro-economic data, IIP and retail inflation to be released post market hours. Investors booked profits and awaited for more clarity," Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.Provisional data with the exchanges showed that foreign institutional investors invested in scrips worth Rs 843.20 crore while domestic institutional investors sold stocks worth Rs 853.67 crore.inod Nair, Head of Research, Geojit Financial Services, said: "Rate sensitive stocks underperformed ahead of today's economic data - CPI inflation and IIP."Mixed trend in global market ahead of two days of US Fed meet also slowed down the domestic sentiment."All the 19 sub-indices of the BSE ended in the negative territory, led by S&P BSE banking index which dipped by 293.64 points, followed by automobile index by 201.92 points and capital goods index by 171.59 points.
Major Sensex gainers on Tuesday were: Dr. Reddy's Lab, up 2.83 per cent at Rs 2,255.60; Adani Ports, up 2.46 per cent at Rs 401.60; ONGC, up 2.26 per cent at Rs 182.95; Lupin, up 0.87 per cent at Rs 845; and Infosys, up 0.76 per cent at Rs 1,011.10.Major Sensex losers were: Coal India, down 2.45 per cent at Rs 263.25; Cipla, down 2.17 per cent at Rs 590.75; Hero MotoCorp, down 1.98 per cent at Rs 3,444.95; TCS, down 1.58 per cent at Rs 2,614.15; and Tata Steel, down 1.54 per cent at Rs 689.20.