After a volatile session, the country’s bourses ended the day on a flat note as the markets took a breather after surging almost 4% on Monday. Before touching a lifetime high of 19,174.45, the 30-share Sensex of the Bombay Stock Exchange (BSE) ended the day at 19,051.86, sheding 6.81 points. The broader 50-share S&P CNX Nifty of the National Stock Exchange (NSE) ended 2.35 points lower at 5,668.05 points.
Dealers said weakness?in?overseas?markets?amid?renewed?concern?that?the?slowdown?in the US housing market would hurt corporate profitability weighed on the sentiment. This resulted in profit booking in the major Asian emerging markets, which had its impact on the Indian measures too. Also, weak openings by the European markets in the afternoon also prevented recovery at home.
However, as FII profit-taking slowed down, the rebound was witnessed from the lower levels, they added.
As per the data released by the stock exchanges (SEs), FIIs were net sellers to the tune of Rs 234 crore on Tuesday against Monday’s net buying of almost $1 billion.
The market breadth remained negative as 43% stocks traded gained while 55% ended on a weak note.