Benchmark share indices shed early gains to end lower on Tuesday as investors booked profits on worries over a widening trade deficit and ahead of the October industrial production data due Wednesday.
The Sensex which had surged to 19,612 ended down 29 points at 19,381, and the Nifty which hit a fresh 23-month high of 5,965 in intra-day trade ended down 14 points at 5,895 .
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(Updated at 14:25hrs)
Benchmark share indices shed early gains to turn negative in late noon trades weighed down by profit taking in oil and gas shares.
At 2:25PM, the Sensex which had earlier surged to 19,612 was down 66 points at 19,344, and the Nifty which touched a fresh 23-month high of 5,965 was down 25 points at 5884.
Asian shares were trading mixed on Tuesday.Japan's Nikkei share average dipped on Tuesday, although it held above the key 9,500-mark, as investors stayed cautious over signs that the index is overbought after a near 10% rally over the past month. The Nikkei ended 0.1% lower at 9,525.32, but supported by its five-day moving average at 9,520.09.The Hang Seng and Straits were up 0.2% each while the Shanghai Composite was down 0.4%.
Major European shares indices were trading weak weighed down by selling pressure in bank shares on concerns over debt crisis in the euro zone. The DAX and FTSE were down 0.1-0.2% each while the CAC-40 was trading flat with positive bias.
Among the sectoral indices on the BSE, Realty index was the top loser down 2.5% followed by power, oil and gas indices. However, FMCG index was the sole gainer led by Hindustan Unilever and ITC.
In the oil and gas space, index heavyweight Reliance Industries was down 0.8% while state-owned exploration major ONGC was down 1.3%.
Tata Motors was down 1.4% on profit booking after recent gains. Other Sensex losers include, SBI, TCS, BHEL and Bharti Airtel.
Among others shares, NMDC shares have rebounded from the day lows and are currently trading higher by 2.6% at Rs 159 after Barclays upgraded the company from underweight to overweight. and raised the price target to Rs 210 from Rs 158.70.
The market breadth in BSE remains turned negatice with 1,779 shares declining and 1,017 shares advancing.
