Mumbai Feb 28 (IANS) Caution ahead of the release of major domestic macro-economic data points along with heavy selling pressure witnessed in oil and gas automobile and energy stocks suppressed the Indian equities markets on Tuesday.
However loses were pared on the back of higher foreign fund inflows and broadly positive global indices.
The macro-data included the second advance estimates of national income 2016-17 along with the estimates of Gross Domestic Product for the third quarter of 2016-17 and the Index of ECI (eight core industries) figures for January. These data points were slated to be released later on Tuesday.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged down by 17.10 points or 0.19 per cent to 8 879.60 points.
The barometer 30-scrip sensitive index (Sensex) of the BSE which opened at 28 825.19 points closed at 28 743.32 points -- down 69.56 points or 0.24 per cent from the previous close at 28 812.88 points.
The Sensex touched a high of 28 876.54 points and a low of 28 721.12 points during the intra-day trade.
In contrast the BSE market breadth was tilted in favour of the bulls -- with 1 438 advances and 1 360 declines.
In terms of the broader markets the BSE mid-cap rose by 0.14 per cent and small-cap index was up by 0.59 per cent.
On Monday the benchmark indices ended lower on the back of negative global cues and outflow of foreign funds.
The NSE Nifty edged down by 42.80 points or 0.48 per cent to close at 8 896.70 points and the BSE Sensex fell by 80.09 points or 0.28 per cent to 28 812.88 points.
Markets ended lower on Tuesday for the second consecutive session though nominally Deepak Jasani Head - Retail Research HDFC Securities told IANS.
Major Asian markets have ended on a positive note barring the Hang Seng and Straits indices. European indices like FTSE 100 and CAC 40 too traded higher.
According to other market observers GDP data release as well as US Fed s speeches kept traders on the back foot.
Markets were also waiting with interest US President Donald Trump s address of joint session of the Congress tonight (Tuesday) which might throw light on plans on tax reform and infrastructure spending said Anand James Chief Market Strategist Geojit BNP Paribas Financial Services.
With nearly Rs 7 000 crore worth IPOs (initial public offerings) about to hit markets investors may be in wait mode but with major initiatives being mooted to boost Make in India programme markets do not show signs of cracking.
The Indian rupee which hit a three-month high on Monday closed flat at 66.69-70 against a US dollar.
In terms of investments the provisional data with exchanges showed that foreign institutional investors (FIIs) purchased stocks worth Rs 1 146.23 crore whereas the domestic institutional investors (DIIs) bought scrip worth Rs 268.34 crore.
Commenting on the sector-specific movement Dhruv Desai Director and Chief Operating Officer of Tradebulls said: IT stocks faced profit booking at higher levels and traded with bearish sentiments.
Banking pharma auto oil-gas media-entertainment and FMCG stocks traded with mixed sentiments while textile aviation and telecom sector stocks traded firm due to buying support.
Sector-wise the S&P BSE oil and gas index plunged by 183.36 points followed by the automobile index which slipped by 52.40 points and the energy index which fell by 33.60 points.
On the other hand the S&P BSE capital goods index surged by 102.24 points the metal index rose by 50.50 points and the consumer durables index edged up by 32.03 points.
Major Sensex gainers on Tuesday were: Bharti Airtel up 2.66 per cent at Rs 365.15; Asian Paints up 2.29 per cent at Rs 1 024.45; Adani Ports up 1.68 per cent at Rs 301.75; Mahindra and Mahindra (M&M) up 0.84 per cent at Rs 1 306.95; and Sun Pharma up 0.61 per cent at Rs 678.95.
Major Sensex losers were: Coal India down 2.48 per cent at Rs 321.80; Bajaj Auto down 1.56 per cent at Rs 2 758.25; NTPC down 1.24 per cent at Rs 163.10; Hero MotoCorp down 1.05 per cent at Rs 3 135; and Tata Consultancy Services (TCS) down 0.90 per cent at Rs 2 466.50.
--IANS
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Caution ahead of macro-data release suppresses equities (Roundup)
