Sensex ended lower by 16 points at 28,507.42, while Nifty closed up with a marginal rise of 1.25 points or 0.01% at 8,777.15.
Defying firm global trend, equities fell for a second straight session as the BSE Sensex gave up its early gains to end lower by 16 points at 28,507.42 amid caution ahead of the US Federal Reserve policy decision. Market was upbeat for major part of the session, largely in tandem with upbeat global markets after the Bank of Japan announced new monetary measures and as investors awaited the outcome of the Fed's policy-setting meeting.
Shares of Power Grid, among Sensex constituents, bore the brunt by falling 1.46% to Rs 175.35 followed by ITC 1.26% to Rs 253.80. Financial Technologies (India) FTIL plunged over 3% after the CBI arrested the promoter of the firm, Jignesh Shah, for alleged cheating and suppression of factors in getting SEBI extension to MCX-SX to continue as a private stock exchange in violation of norms.
Shares of Monsanto India rose 2.08% to Rs 2,446.10 after German pharma and chemical major, Bayer group announced mandatory open offer to buy up to 26% additional stake in the company for over Rs 1,000 crore. Sensex started off on a strong at 28,554.38 and advanced to the day's high of 28,689.36. However, on emergence of selling towards the fag-end, it slipped to a low of 28,462.33, before settling 15.78 points or 0.06%, down at 28,507.42.
In choppy movements, the NSE Nifty, however, managed to close up with a marginal rise of 1.25 points or 0.01% at 8,777.15. It shuttled between 8,826.85 and 8,757.30. Broader markets too depicted a mixed trend as investors locked-in gains in recent gainers. The BSE mid-cap index fell 0.07% and small-cap index gained 0.19%.
Overseas, Asian stocks led by Tokyo mostly closed higher after the Bank of Japan tweaked its monetary easing plan in a renewed attempt to jump start inflation and the lukewarm economy. "Stocks edged higher after the Bank of Japan (BoJ) announced new monetary policy measures and said that it would expand its monetary base until inflation becomes stable above 2%," said Shreyash Devalkar, Fund Manager Equities, BNP Paribas Mutual Fund.
Japan's Nikkei ended 1.91% higher, Hong Kong's Hang Seng gained 0.80% while Shanghai Composite Index rose 0.10%. European markets too were trending positive with London's FTSE rising 0.36%, Paris CAC-30 up 1.12% and Frankfurt's DAX 30 gained 0.98%.
Back home, Foreign Portfolio Investors (FPIs) sold shares worth Rs 1,146.93 crore on Tuesday, as per provisional data released by the stock exchanges. In the domestic market, 14 scrips out of the 30-share Sensex pack ended lower while 16 ended higher.
Major losers were, SBI (1.14%), ICICI Bank (0.86%), ONGC (0.68%), Cipla (0.28%), RIL (0.26%), L&T (0.25%), Hero MotoCorp (0.23%), Maruti Suzuki (0.20%), Adani Ports (0.19%) and Lupin (0.15%). However, Tata Steel rose 1.05% followed by Hind Unilever 1%, Axis Bank 0.85% and Bharti Airtel 0.69%.
Among BSE sectoral indices, FMCG dropped by 0.58%, followed by infrastructure 0.33%, PSU 0.30%, power 0.22% and banking 0.19%.
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