Equity benchmark Sensex declined by 112 points on Tuesday due to profit booking in index-heavyweights HDFC twins, Kotak Bank and Bajaj Finance despite a positive trend in global markets.
After a volatile trading session, the 30-share index ended 112.16 points or 0.19 per cent lower at 60,433.45 with 16 of its constituents ending in the red.
The broader Nifty of the National Stock Exchange fell by 24.30 points or 0.13 per cent to 18,044.25 as private banks and FMCG stocks declined.
HDFC Bank was the top loser in the Sensex pack, shedding nearly 2 per cent, followed by HDFC, Bajaj Finance, NTPC, Maruti, Kotak Bank and PowerGrid. On the other hand, gains in M&M, SBI, Reliance Industries and ICICI Bank helped restrict losses.
"After a positive opening, the domestic market traded lower as private banking stocks were under pressure following dull global markets," said Vinod Nair, Head of Research at Geojit Financial Services.
Despite the passage of the long-awaited infrastructure bill, the gains in the US market were capped as investors cautiously awaited the US inflation data, he stated.
Sectorally, BSE metal, finance, consumer durables, bankex and FMCG indices fell up to 0.91 per cent, while industrials, capital goods, auto and oil and gas indices rose up to 1.39 per cent.
Broader midcap and smallcap indices rose up to 0.82 per cent.Deepak Jasani, Head of Retail Research, HDFC Securities, said, "On a day when the volumes on the NSE were a little below recent average, capital goods, auto and oil & gas indices gained the most while metals, banks and FMCG indices fell the most.