Caution over third quarter results, coupled with anxiety over the upcoming macro-data points, subdued Indian equity markets on Tuesday.
This led to a barometer index of the Indian equity markets provisionally closing the day’s trade down 141 points.
Initially, both the bellwether indices of the Indian equity markets made modest gains as investors were attracted by a sizeable number of stocks that are trading near their yearly lows.
Besides value buying, short covering amidst thin volumes led to the morning relief rally.
However, both the indices soon ceded their gains as anxiety was stroked by the third quarter (Q3) results season which started on Tuesday.
Among the companies that were to release their Q3 results on Tuesday were information technology (IT) major Tata Consultancy Services (TCS), Federal Bank and IndusInd Bank.
In addition, long-liquidation positions and lacklustre Asian markets, too, dented investors’ sentiments.
Caution also prevailed over the upcoming domestic macro-data on industrial output, and retail inflation. Both the data points were slated to be released later on Tuesday.
The barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) receded by 141 points, or 0.57 percent in the day’s trade.
Similarly, the wider 50-scrip Nifty of the National Stock Exchange (NSE) ended the day’s trade deep in the red. It declined by 52.20 points, or 0.69 percent, at 7,511.65 points.
The Sensex of the S&P BSE, which opened at 24,862.93 points, provisionally closed at 24,684.16 points (at 3.30 p.m.) — down 140.88 points or 0.57 percent from the previous day’s close at 24,825.04 points.
The Sensex touched a high of 24,882.30 points and a low of 24,597.11 points in intra-day trade.
The S&P BSE market breadth favoured the bears — with 1,847 declines and 942 advances.
The Sensex closed the previous session on January 11 down 109 points or 0.44 percent, while the Nifty ended lower by 38 points or 0.49 percent.