Sensex, Nifty Erase Intraday Gains To End Marginally Lower

Eleven of 19 sector gauges compiled by the BSE ended lower led by the S&P BSE Oil & Gas index's 1.5 per cent decline.

Sensex, Nifty Erase Intraday Gains To End Marginally Lower

S&P BSE Sensex and NSE Nifty 50 indexes erased intraday gains to end marginally lower on Tuesday as bluechip shares like Reliance Industries, HDFC Bank, ITC, Tata Consultancy Services and Bharti Airtel came under selling pressure in the last hour of trade. The benchmarks staged a gap up opening wherein the Sensex rose as much as272 points and Nifty touched an intraday high of 10,400. However, due to weak European markets and US stock futures traders booked profit in the last hour of trade, analysts said.

The Sensex ended 46 points lower at 34,916 and Nifty 50 index declined 10 points to 10,302.

European markets were trading lower with France's CAC 40 index down 0.31 per cent, England's FTSE 100 declined 0.94 per cent and Germany's DAX fell 0.2 per cent.

Back home, eleven of 19 sector gauges compiled by the BSE ended lower led by the S&P BSE Oil & Gas index's 1.5 per cent decline. Power, telecom, realty, healthcare and energy shares were also witnessed selling pressure.

On the other hand, S&P BSE Auto index was top gainer, up 1 per cent.

Mid- and small-cap shares also witnessed selling pressure as S&P BSE MidCap index fell 0.15 per cent and S&P BSE SmallCap index dropped 0.7 per cent.

Bharat Petroleum was top Nifty loser, the stock fell 2.5 per cent to close at Rs 374. Power Grid, Shree Cements, GAIL India, Indian Oil, Vedanta Coal India, Bharti Airtel, UPL, ONGC and Bajaj Finance were also among the losers.

On the flipside, Shree Cements, Maruti Suzuki, ICICI Bank, Nestle India, Britannia Industries, UltraTech Cement, Tata Steel and Hero MotoCorp were among the gainers.

The overall market breadth was negative as 1,476 shares closed lower while 1,287 ended higher on the BSE.