Indian benchmark indices Sensex and Nifty were dragged by last-hour profit-taking in banking and auto shares on Tuesday as investor sentiment turned cautious ahead of the GST Council’s meeting on September 3 and 4 to discuss tax pruning.
The 30-share BSE Sensex declines 206.61 points or 0.26 per cent to settle at 80,157.88; while the 50-share NSE Nifty dipped 45.45 points or 0.18 per cent to close at 24,579.60.
During the day, the Sensex had opened higher, but was dragged down from its high of 80,761.14 after losing 752.64 points.
The NSE Nifty had hit a high of 24,756.10 during the day.
Among Sensex firms, Mahindra and Mahindra, Asian Paints, Kotak Mahindra Bank, ICICI Bank, Tata Motors, and Larsen & Toubro closed with losses, while Power Grid, NTPC, Tata Steel, and Hindustan Unilever were the major gainers.
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Trade analysts, such as Vinod Nair, Head of Research, Geojit Investments Ltd, said domestic equities reversed early gains from strong macro data and ended lower on Tuesday because of profit-booking amid caution ahead of the GST Council meeting and F&O expiry.
In Asian markets meanwhile, South Korea’s Kospi, Japan’s Nikkei 225 settled in positive category, while Shanghai’s SSE Composite and Hong Kong’s Hang Seng ended lower.
The US markets were closed on Monday for the Labor Day holiday, while markets in Europe were trading in negative territory.
The BSE smallcap gauge climbed 0.64 per cent and midcap index went up by 0.27 per cent.
Among BSE sectoral indices, bankex dropped the most by 0.68 per cent, followed by telecommunication (0.59 per cent), financial services (0.44 per cent), teck (0.28 per cent) and consumer durables (0.13 per cent).
Power jumped 1.62 per cent, followed by utilities (1.47 per cent), FMCG (1.12 per cent), metal (0.90 per cent), realty (0.67 per cent) and energy (0.65 per cent).
On Monday, the Sensex jumped 554.84 points or 0.70 per cent to settle at 80,364.49, and the Nifty climbed 198.20 points or 0.81 per cent to 24,625.05.
Global oil benchmark Brent crude climbed 1.72 per cent to USD 69.36 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,429.71 crore on Monday, while Domestic Institutional Investors (DIIs) bought worth ₹4,344.93 crore, according to exchange data.
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