Profit booking, along with disappointing macro-economic datasubdued the Indian equity indices during the afternoon trade session onTuesday.
The market opened on a flat note following lacklustre globalcues and fell sharply thereafter.
However, it rebounded piercingly from lower levels andtrimmed off most of its intraday losses.
Globally, shares in Asia retreated after a mixed tradesession on the Wall Street.
Back home, disappointing macro economic inflation data and about of profit bookings led to a sharp decline.
Among sectors, PSU Bank, FMCG and Realty indices were majorlosers.
Consequently, the S&P BSE Sensex traded at 1.30 p.m. at 46,103.25points, lower by 150.21 points, or 0.32 per cent, from the previous close.
The NSE Nifty50 was traded at 13,519.20 points, lower by38.95 points, or 0.29 per cent, from the previous close.
"At current juncture, crucial support for Nifty is placedat 13400 - 13350 zone; while resistance can be seen around 13700 - 13750zone," said Jay Purohit, Technical & Derivatives Analyst, MOFSL.
"Considering current chart structure and derivativesdata, we are expecting continuation in ongoing up move of Nifty towards 13700levels in coming week. Thus, traders are advised to remain positive and useintraday dips as buying opportunity. On stocks front, one can look for buyingopportunity in stocks like Bajaj Finance, HCL Tech, Adani Ports and GujaratGas."
According to Gaurav Garg, Head of Research, CapitalViaGlobal Research:
"Most sectoral indices are trading in red with Realty,FMCG, and PSU banks being hit the worst shedding nearly 1 per cent each."
"Eicher Motor, Ultratech Cement, Adani Ports, Bajaj Finserv,BajFinance were the top gainers while ICICI Bank, Tata Motors, HindustanUnilever, Nestle India, Axis Bank being the top loser on Nifty."
(Source: IANS)