Two days of sharp rally were followed by a decline in equity benchmark indices, Sensex and Nifty, in early Tuesday trade after selling in IT stocks amid a holiday-shortened week.
The 30-share BSE Sensex dropped 116.57 points to 85,450.91, while the 50-share NSE Nifty declined by 27.15 points to 26,145.25.
From the 30-Sensex firms, Infosys, Tata Consultancy Services, Asian Paints, HCL Tech, Eternal and Bharti Airtel were among the major laggards, although Bajaj Finance, Power Grid, UltraTech Cement and Tata Steel were among the gainers.
Market experts say trading volumes are expected to remain subdued in the remaining working days of the week. The Indian stock markets are closed on Thursday on the occasion of Christmas.
In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index traded in positive territory, while the US markets also ended higher on Monday.
Meanwhile, Foreign Institutional Investors (FIIs) offloaded equities worth ₹457.34 crore on Monday, according to exchange data, after turning buyers. Domestic Institutional Investors (DIIs), however, remained buyers as they bought equities worth ₹4,058.22 crore.
Brent crude, the global oil benchmark, dipped 0.08 per cent to USD 62.02 per barrel.
On Monday, the Sensex jumped 638.12 points or 0.75 per cent to settle at 85,567.48. The Nifty climbed 206 points or 0.79 per cent to close above the 26,000 mark at 26,172.40.
Also Read: Sensex rallies 638 pts amid foreign fund inflows
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