Sensex Falls 119 Points, Nifty Settles Below 9,650; Tata Motors Down 4%

The BSE Sensex and Nifty ended lower on Tuesday as traders rushed to book profit in recent gainers ahead of the crucial RBI policy meet on Wednesday. The Sensex shed 118.93 points to close at 31,190.56 while the Nifty settled 37.95 points lower at 9,637.15. Selling was witnessed across the sector with auto and FMCG falling the most. The FMCG and auto sub-indices of National Stock Exchange closed 1.4 and 1.08 per cent lower respectively.

Both the Sensex and Nifty opened at fresh record highs on Tuesday with Nifty crossing the 9,700 mark for the first time ever. However, selling in index heavyweights like Tata Motors, ITC and ONGC dragged broader indices lower.

Among Nifty stocks, Tata Motors was the biggest loser, down 3.58 per cent followed by NTPC, Indiabulls Housing Finance, Tata Motors DVR, ONGC, which fell between 2 to 3 per cent.

However, losses were limited as IT stocks witnessed sharp bounce back on Tuesday. The Nifty IT - NSE's sub-index for IT stocks - jumped 2.3 per cent. HCL Tech was the top gainer in Nifty, up 3.58 per cent followed by TCS, Infosys, Tech Mahindra and Wipro, which added between 0.9 per cent to 3.55 per cent.

Out of the 51 stocks in Nifty, 14 stocks ended higher while 37 shares closed with losses.

Selling pressure was also visible in midcap and smallcap shares. The BSE Midcap and BSE Smallcap indices closed 0.61 per cent and 0.64 per cent lower respectively.