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The Sensex and Nifty snapped a three-session winning streak to end slightly lower as investors booked profits in recent outperformers such as ITC Ltd, but energy shares rose on lower global oil prices.
The benchmark BSE index fell 11.83 points or 0.04 per cent to 31,209.79, while the broader NSE index ended 1.7 points or 0.02 per cent lower at 9,613.30.
Among BSE sectoral indices, healthcare index fell the most by 0.73 per cent, followed by FMCG 0.66 per cent, realty 0.64 per cent and auto 0.48 per cent. On the other hand, oil & gas index was up 0.56 per cent, IT 0.33 per cent, TECk 0.11 per cent and metal 0.06 per cent.
Top five Sensex gainers were Reliance (+2.79%), HDFC (+1.28%), Kotak Bank (+1.1%), Infosys (+0.96%) and Adani Ports (+0.87%), while the major losers were Axis Bank (-2.08%), Hero MotoCorp (-2.04%), Dr Reddy's (-1.88%), ITC (-1.52%) and Cipla (-1.28%).
GST - drivenrally
Indexes had risen for three consecutive sessions as consumer goods firms rallied on hopes of reaping benefits from the Goods and Services Tax, which replaced more than a dozen federal and state levies.
“GST positivity still weighs on the market. Some traders are now looking for bargain buying, while other are booking profits after sharp gains from yesterday,” said Anand James, chief market strategist at Geojit Financial Services.
Profit-booking
Recent gainers led the declines. Cigarette maker ITC Ltd, which hit a record high on Monday, ended 1.5 per cent lower, while Reliance Industries Ltd rose nearly 3 per cent.
Energy stocks gain
Energy stocks gained as oil prices retreated, halting a straight eight-day run of gains on signs that a persistent rise in US crude production is running out of steam.
The Nifty Energy index was up as much as 1.52 per cent, its biggest intraday percentage gain in almost three weeks.
Global markets
Asian shares rose on Tuesday, thanks to strength in Europe and the United States as oil's longest stretch of daily price gains in over five years lifted energy shares, while markets in Seoul were briefly shaken by a missile launched by North Korea.
MSCI's broadest index of Asia-Pacific shares outside Japan added 0.3 per cent. Japan's Nikkei was up 0.4 per cent, and South Korea's KOSPI was 0.1 per cent lower.
The S&P 500 and Dow Industrials moved higher on Monday, with the Dow hitting an intraday record as energy and bank stocks gained, but continued weakness in the technology sector pulled the Nasdaq lower.
The S&P energy index rose 2.0 per cent, its best performance in nearly a month, led by gains in Exxon Mobil and Chevron.
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