Sensex lower; financials decline, metal shares gain

Reuters Market Eye - The BSE Sensex edges down 0.15 percent, while the Nifty is down 0.12 percent.

Asian shares eased and the dollar firmed on Tuesday as unexpectedly strong U.S. factory activity bolstered expectations the Federal Reserve will soon trim its stimulus.

Financial shares fall on profit-taking after gaining in each of the previous three sessions. Housing Development Finance Corp is down 1 percent.

However, steel makers continue to gain after encouraging manufacturing surveys in China and India on Monday.

Jindal Steel and Power gains 4.77 percent, while Hindalco Industries is up 1.6 percent.

Maruti Suzuki gains 0.22 percent on hopes imports of parts would be less costly after the yen hits a six-month low to the US Dollar. The auto maker sources a large portion of its parts from Japan.

 

(Reporting by Abhishek Vishnoi)