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Sensex settles volatile session in red, Nifty ends flat on profit-booking

The breadth, indicating the overall health of the market was slightly positive

SI Reporter  |  New Delhi 

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The benchmark indices snapped three-session long gaining streak to end flat on Tuesday tracking negative trend seen in Asian and after fired a missile that landed in Japanese waters, deepening concerns over the isolated nation's nuclear capabilities.

Back home, investors booked profits in recent outperformers such as ITC, although energy firms gained on lower oil prices.

The S&P BSE ended at 31,209, down 11 points, while the broader Nifty50 was ruling at 9,613, down 1 point.

In the broader market, the S&P BSE Midcap index slipped 0.3%, while the S&P BSE Smallcap index settled little changed. 

The breadth, indicating the overall health of the market was slightly positive. On BSE, 1,338 shares rose and 1,320 shares fell. A total of 135 shares were unchanged.

"Market traded between gains and losses due to profit booking after Monday’s rally and weak global market. Two domestic factors which could drive the market in the near-term are high valuation and Q1FY18 results which are likely to be muted due to de-stocking. Global headwinds like FOMC minutes on Wednesday will be eagerly watched to find stance of Fed's policy action in CY17," said Vinod Nair, Head of Research at Geojit Financial Services.

Sectors and stocks

Recent gainers led the declines. Cigarette maker ITC, which hit a record high and drove the higher on Monday, was down 1.3%.

The Auto index was down 0.5% with Hero MotoCorp (down 2%) losing the most on the index. Tata Motors DVR and MRF slid 1% each.

Meanwhile, commercial vehicles maker Ashok Leyland, which hit its highest in a year on Monday, was down 0.6%.

Among gainers, energy stocks led, with Reliance Industries and Bharat Petroleum Corp climbing more than 2% each after 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 Energy index was up as much as 1.5%, its biggest intraday percentage gain in almost three weeks.

Global markets

were trading lower, halting a run of eight straight days of gains. The pan-European Stoxx 600 was down 0.4%, France's CAC 40 slipped 0.1%, while Britain's FTSE 100 was little changed. 

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.6 percent after rising earlier.

Japan's Nikkei also surrendered earlier gains to drop 0.1 percent, and South Korea's KOSPI extended losses to trade 0.6% lower.

Hong Kong's Hang Seng posted the biggest loss with a 1.6 percent drop, after earlier slumping more than 2%.

Chinese blue-chips fell 0.9%.

(With inputs from Reuters)

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