Sensex decline 42.64 pts after two-day rally amid profit-taking in IT and pharma stocks

Mumbai: Benchmark stock index BSE Sensex slipped by 42 points in a volatile trade on Tuesday following profit-taking in IT and pharma shares and mixed global cues.

Snapping the two-day gaining streak, the 30-share BSE Sensex dipped 42.64 points or 0.05 per cent to settle at 85,524.84.

During the day, it hit a high of 85,704.93 and a low of 85,342.99.

The 50-share NSE Nifty closed marginally up by 4.75 points or 0.02 per cent to 26,177.15.

Among Sensex firms, Infosys, Bharti Airtel, Adani Ports, Sun Pharma, Tech Mahindra, Eternal, Axis Bank and Maruti were the major laggards.

However, ITC, UltraTech Cement, Tata Steel and HDFC Bank were among the gainers.

In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index and Shanghai’s SSE Composite index settled in positive territory, while Hong Kong’s Hang Seng index ended lower.

Markets in Europe were trading on a mixed note. US markets ended higher on Monday.

The rupee rose 5 paise to settle at 89.63 against the US dollar on Tuesday on the back of a weaker greenback.

FIIs offloaded equities worth Rs 457.34 crore on Monday, according to exchange data.

Domestic Institutional Investors, however, remained buyers as they bought equities worth Rs 4,058.22 crore. Brent crude, the global oil benchmark, went up by 0.10 per cent to $62.13 per barrel.