Mumbai July 4 (IANS) Geo-political tensions coupled with subdued global indices and profit booking dragged the Indian equity markets lower on Tuesday.
According to market observers investors booked profits in sectors such as automobile healthcare and FMCG.
The 30-scrip Sensitive Index (Sensex) of the BSE oscillated in a range of 187 points before it ended at 31 209.79 points -- down 11.83 points or 0.04 per cent from its previous close at 31 221.62 points.
The wider Nifty of the National Stock Exchange (NSE) slipped by 1.70 points or 0.02 per cent to 9 613.30 points.
The BSE market breadth was slightly bullish -- with 1 344 advances and 1 315 declines.
The broader market indices underperformed the Sensex. The S&P BSE mid-cap was down by 0.34 per cent and the small-cap index by 0.04 per cent.
Markets ended nominally lower after a quiet session on Tuesday as they consolidated in a range. The key indices snapped a three-day winning streak Deepak Jasani Head of Retail Research HDFC Securities told IANS.
A fall in global stock markets weighed on sentiments. A smart rally in Reliance Industries however supported the main indices.
On the currency front the rupee strengthened by 15-14 paise to 64.73-74 to a US dollar from its previous close at 64.88.
In investments provisional data with the exchanges showed that foreign institutional investors (FIIs) sold stocks worth Rs 834.36 crore while domestic institutional investors (DIIs) purchased scrips worth Rs 295.88 crore.
Profit booking was seen in the FMCG stocks after yesterday s stellar performance by the sector said Dhruv Desai Director and Chief Operating Officer of Tradebulls.
Auto index too witnessed profit booking after Monday s gains which came on the back of healthy sales numbers posted by many companies Desai added.
Sector-wise the S&P BSE automobile index declined by 114.83 points the healthcare index by 104.53 points and the FMCG index by 71.17 points.
On the other hand the S&P BSE oil and gas index rose by 74.45 points the energy index by 46.51 points and the IT index by 32.49 points.
Major Sensex gainers on Tuesday were: Reliance Industries up 2.79 per cent at Rs 1 422.70; HDFC up 1.28 per cent at Rs 1 643; Kotak Bank up 1.10 per cent at Rs 958.95; Infosys up 0.96 per cent at Rs 960.50; and Adani Ports up 0.87 per cent at Rs 371.25.
Major Sensex losers were: Axis Bank down 2.08 per cent at Rs 507; Hero MotoCorp down 2.04 per cent at Rs 3 699.95; Dr. Reddy s Lab down 1.88 per cent at Rs 2 630.45; ITC down 1.52 at Rs 337.10; and Tata Motors (DVR) down 1.32 per cent at Rs 262.45.
--IANS
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Profit-taking, geo-political tensions drag equity markets lower (Roundup)
