Sensex ends after six-day rally, Nifty ends below 8350

The markets on Tuesday fell for the first time in last seven sessions, taking a breather after 881-point rally on the Sensex.

The Sensex declined 111.89 points or 0.41 percent to 27166.87 and the 50-share Nifty was down 34.75 points or 0.42 percent at 8335.95 amid consolidation.

Shares among gainers were Coal India, BHEL, HDFC, Tata Steel and Wipro, while among the losers were GAIL, Bharti Airtel, Hero MotoCorp, Tata Motors and NTPC.

The current fall in the market could be taken as an opportunity to buy on dips as the drops in monsoon deficiency and expectation of an improvement in spending will act as a grip to the market," said market experts.

India's growth over the coming years will be challenged by lack lustre global demand, high corporate leverage and impaired credit supply, Moody's Investors Service today said.

Moody's added that the passage of Land Acquisition Bill and Goods and Services Tax (GST) Bill has stalled, which illustrates that political friction will keep the reform process uneven and slow-moving.

"Domestic political developments amid an uncertain global environment in 2016 are likely to keep the market sentiment volatile," the brokerage firm said in its report.