Benchmark fairness indices climbed in early trade on Tuesday however later gave up all of the early positive aspects and have been buying and selling lower consistent with weak Asian market cues.
The 30-share BSE Sensex climbed 254.11 factors to 71,569.20 in early trade. The Nifty went up by 61.35 factors to 21,480.
However, later each the benchmark indices gave up all of the early positive aspects and have been buying and selling lower. The Sensex quoted 152.33 factors lower at 71,168.99 whereas the Nifty traded down by 40.50 factors to 21,375.30.
Among the Sensex companies, Nestle, Reliance Industries, Sun Pharma, Larsen & Toubro, Axis Bank, Wipro and Bharti Airtel have been the key gainers.
Tata Consultancy Services, Mahindra & Mahindra, Bajaj Finserv, HDFC Bank, Asian Paints and IndusInd Bank have been among the many laggards.
In Asian markets, Tokyo traded within the constructive territory, whereas Seoul, Shanghai and Hong Kong quoted lower.
The US markets ended with positive aspects on Monday.
“The market is likely to move into a consolidation phase as the Christmas holidays and the New Year approach. A period of consolidation after the sharp run-up of the last two weeks is also desirable since it will make the market healthy,” mentioned V Okay Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Global oil benchmark Brent crude climbed 0.12 per cent to USD 78.04 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities price Rs 33.51 crore on Monday after steady shopping for, based on change information.
Snapping its three-day rally, the BSE benchmark declined 168.66 factors or 0.24 per cent to settle at 71,315.09 on Monday. The Nifty fell by 38 factors or 0.18 per cent to 21,418.65.
