Sensex breaks 2-day rally, falls 100 pts

The BSE Sensex fell about 100 points today as investors adopted a cautious approach ahead of the release of key macroeconomic data.
Equity benchmarks erased early gains after banking, PSU, realty and financial counters came under selling pressure.
The government is scheduled to release the December quarter GDP growth numbers as well as IIP data on Wednesday.
The 30-share Sensex opened higher at 34,558.56 and advanced to hit a high of 34,610.79 in early trade. However, it slipped into the negative zone to touch a low of 34,314.87, before finally ending 99.36 points, or 0.29 per cent, down at 34,346.39.

The index had gained 626.25 points in the past two sessions on the back of unabated buying by domestic institutional investors.
The NSE Nifty settled the day 28.30 points, or 0.27 per cent, lower at 10,554.30 after shuttling between 10,631.65 and 10,537.25 during the day.
On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 1,119.51 crore, while domestic institutional investors (DIIs) bought equities to the tune of Rs 1,409.45 crore yesterday, provisional data showed.