)
Benchmark indices continue to maintain the subdued activity weighed down by metal and financial shares.
At 13:15 PM, the 30-share Sensex was down 103 points at 22,529 and the 50-share Nifty was down 25 points at 6,735.
Foreign Institutional Investors seems to have trimmed their purchases in Indian equities in the past two sessions with net purchases of Rs 295 crore on Friday and just Rs 77 crore on Monday, as per the provisional data released by the stock exchanges.
Further, the India Meteorological Department (IMD) on Thursday announced that the country will likely get below-normal levels of monsoon rain this year.
Investors also maintained caution ahead of the announcement of Federal Reserve's monetary policy review tomorrow, 30 April 2014.
Adds Kunal Bothra, Technical Analyst, LKP Securities,” There is a critical short term support at 6750 on Nifty spot. If on closing basis, markets close below this level, then I think, there could be a chance that Nifty may correct till 6675-6650 levels.”
On the global front, Asian share markets put in an indecisive performance on Tuesday as caution ahead of some major events this week overshadowed a late rally on Wall Street, though futures pointed to opening gains for European stocks.
Among currencies, the euro made promising progress on the yen and Australian dollar even as a holiday in Tokyo sapped market liquidity elsewhere.
Activity in Asia had been very much muted with MSCI's broadest index of Asia-Pacific shares outside Japan drifting off 0.25%.
Back home, the rupee was little changed on Tuesday at 60.61/62 compared with its Monday's close of 60.6450/65 as caution prevailed ahead of the outcome of US Federal Reserve's policy meet on late Wednesday and a clutch of US economic data in the week ahead.
On the sectoral front, BSE Metal index has slumped by nearly 2% followed by counters like FMCG, Banks, Power and Oil & Gas, all falling down between 0.1-1%. However, BSE Realty and Consumer Durables indices have gained by nearly 1% each.
The main losers Tata Steel, HUL, Bajaj Auto, Hindalco, Cipla, Tata Power, Tata Motors and HDFC Bank.
Hindustan Unilever (HUL) has lost nearly 3% to Rs 565, its lowest level since March on the NSE, after reporting 1% sequential decline in the volume growth for the fourth quarter ended March 31, 2014 (Q4FY14).
On the gaining side, Sun Pharma, L&T, M&M, Wipro and BHEL have gained between 0.2-1%.
Railway stocks such as Titagarh Wagons, Kalindee Rail Nirman, Kernex Microsystems and Hind Rectifiers have plunged by up to 9% due to profit-booking on the Bombay Stock Exchange (BSE).
The broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices have gained between 0.3-1%.
The market breadth in BSE remains neutral with 1,246 shares advancing and 1,233 shares declining.
