Fall in ITC, HDFC, ICICI Bank, Infosys, L&T, Tata Motors and NTPC mainly weighed on the 30-share Sensex. The barometer moved erratically in a narrow range of over 135 points before ending at 18,450.23, a fall of 59.47 points or 0.32 per cent. In past three days, it is down 590.72 points or 3.10 per cent.
Global cues are also giving an uncertain scenario in near term as US data is being eyed now, he added.
The broad-based 50-issue CNX Nifty of the NSE also dipped by 21.50 points or 0.39 per cent to 5,553.25.
Smart rise in Maruti Suzuki, RIL and ONGC cushioned the market fall to a major extent. Maruti Suzuki was the top gainer with a rise of 7.23 per cent on the back of a weak yen which would boost margins by reducing the costs of imports.
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Government partially decontrolled the sector by giving freedom to millers to sell in open market and removed their obligation to supply sugar at subsidised rate to ration shops.
Meanwhile, Foreign institutional investors (FIIs) sold shares worth a net Rs 326.21 crore yesterday, as per provisional data from the stock exchanges.
In Asia, indices like Hang Seng, KOSPI, Strait Times and SET Composite closed down while Nikkei and Jakarta Comp ended up. In Europe, FTSE, CAC 40 and DAX were trading 1.4-2 per cent down in afternoon trade.