The BSE Sensex and NSE Nifty fell for the second consecutive session on Tuesday as sentiment remained cautious ahead of the US Federal Reserve’s two-day policy meet scheduled later in the day. Sensex closed 108.52 points, or 0.40 per cent, down at 27,253.44 while Nifty closed 27.65 points, or 0.33 per cent, down at 8,232.90.

Quarterly results and the expiry of monthly derivative contracts on Thursday also affected market sentiments.

In the 50-share index, Maruti Suzuki, Sun Pharma, Ultratech Cements, BPCL and Asian Paints gained between 1.35 per cent and 3.05 per cent. On the other hand, Lupin, ONGC, GAIL, HDFC and Bank of Baroda slid between 2.10 per cent and 5.45 per cent.

Barring the BSE FMCG index (up 0.1 per cent) and BSE Auto index (up 0.38 per cent), rest all other indices on the Bombay Stock Exchange ended in red. The BSE Consumer Durables and the BSE Capital Goods index dipped 1.43 per cent and 0.7 per cent at 11,587.81 and 15,582.43, respectively.

“(Earnings) numbers, FOMC meeting, world market cues and (derivatives) expiry are the factors that weighed on market sentiments,” said Alex Mathews, head of research at Geojit BNP Paribas.

Lupin plunged  over 5 per cent after reporting second-quarter net profit much below market estimates, due to lower revenue from the United States, its largest market.

Meanwhile, Housing Development Finance Corp fell 2.75 per cent, adding to its 1.9 per cent loss on Monday after its July-September results fell short of expectations.

Axis Bank reversed losses and closed 0.03 per cent up after the bank posted a 19 per cent increase in second-quarter profit, in line with estimates, while its bad loans remained stable.

Maruti Suzuki settled 2.44 per cent up after the carmaker said quarterly net profit rose about 42 per cent from a year earlier.

Shanghai and Hang Seng closed 0.14 per cent and 0.11 per cent up at 3,434.34 and 23,142.73 while Nikkei closed 0.90 per cent down 18,777.04.

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Markets through the day

3.30 pm: Sensex closed 108.52 points, or 0.40 per cent, down at 27,253.44 while Nifty closed 27.65 points, or 0.33 per cent, down at 8,232.90.

3.20 pm: Meanwhile, Bharti Airtel Limited and Eaton Towers, a leading independent telecoms tower company in Africa, announced the conclusion of the sale and purchase of the tower assets of Bharti Airtel Burkina Faso. The share price of Bharti Airtel was up 0.36 per cent at Rs 353.15. According to a release, the tower sale agreements allow Airtel to focus on its core business and customers, to deleverage through debt reduction, and will significantly reduce its on‐going capital expenditure on passive infrastructure. For Eaton Towers, the acquisition gives the scale necessary to provide shared telecoms
infrastructure solutions, with its customers benefiting from lower operating costs,
expanded network coverage and capacity and improved quality of service.

2.45 pm: TVS Motor Company share price surged over 7 per cent after the company reported 22.78 per cent year-on-year (yoy) rise in its net profit figures for the quarter ended September 30, 2015. The share price of TVS Motors was up 7.46 per cent at Rs 262.25.

2.28 pm: For the quarter ended September 30, 2015, Maruti Suzuki Posted net profit of Rs 1,225.56 crore, up 42 per cent, against Rs 862.54 crore in the corresponding quarter a year ago. The share price of the auto maker was up 0.93 per cent at Rs 4,428.70.

2.20 pm: Axis Bank, India’s third-biggest private sector lender by assets, reported a 19 per cent increase in second-quarter profit, in line with estimates, while its bad loans remained stable. Net profit rose to Rs 1,916 crore for the three months to Sept. 30 from Rs 1,611 crore a year earlier. The share price of the bank was up 0.74 per cent at Rs 525.

2.02 pm: Meanwhile, Lupin posted a Q2 consolidated net profit of Rs 408.84 crore, down 35 per cent, against Rs 630.04 crore in the corresponding quarter a year ago. The share price of the pharma major was down 5 per cent at Rs 1,951.15.

1.57 pm: The broader indices were trading in green; the BSE Midcap index was up by 0.08 per cent, while Smallcap index was up by 0.13 per cent.

1.53 pm: The market breadth on BSE was negative, out of 2,658 stocks traded, 1,137 stocks advanced, while 1,376 stocks declined on the BSE. The CNX Nifty was down 31.85 points at 8,228.70.

1.38 pm: Bharat Forge on Tuesday said it is reorganising operations of its European subsidiaries to reduce costs and facilitate tax and fiscal consolidation. The share price of Bharat Forge was trading 0.37 per cent up at Rs 907.10 on BSE. Sensex was down 102 points at 27,259.

1.06 pm: NIIT Technologies share price gained as much as 7.48 per cent intraday on after the company announced a long-term strategic agreement with Dubai-based airline flydubai. The agreement will enable flydubai to build airline-specific IT systems catering to all facets of its business. This will support flydubai’s programme to deliver an enhanced passenger satisfaction. Sensex was down 110 points at 27,251.

12.58 pm: Meanwhile, Rs 3,018-crore initial public offer of IndiGo’s parent InterGlobe Aviation was subscribed 33 per cent till noon on the first day of the issue on Tuesday. The much-awaited IPO had received bids for 99,26,190 shares against the total issue size of 3,01,22,088 shares, data available with the NSE till 1200 hrs showed. The portion reserved for qualified institutional buyers (QIB) was over-subscribed 1.14 times, sources said.

12.40 pm: Sensex was down 107 points at 27,251. Foreign institutional investors have reduced their holdings in 19 blue chip firms that are part of the 30-share benchmark Sensex during July-September quarter as they recast their portfolio on account of several domestic and global factors.

12.33 pm: Indian equity benchmarks continued to trade in red in early noon session weighed down by selling in metal, Consumer Durables, PSU, Oil & Gas and Capital Goods stocks, amid weak global cues. Further, investors were cautious ahead of October series expiry in the derivatives segment on Thursday. Depreciation in the rupee too dampened sentiment. The rupee was marginally down against the dollar in noon trade on Tuesday due to month-end demand for the US currency from importers. Sensex was down 113.10 points at 27,248 while Nifty was down 31.10 points at 8,229.45.

12.06 pm: Nestle India shares were trading 0.77 per cent up at Rs 6,384 on BSE after the company said it has resumed manufacturing of its instant noodles Maggi at three of its India facilities and will hit the markets after getting clearances from food testing laboratories. Karthik Rangappa, vice president, education and research, Zerodha, said, “At the current market price, Nestle India shares are trading 15 per cent lower to its 52 week high. We believe long term investors should use this opportunity and buy in with a 3 – 4 year perspective.”

11.42 am: Eros International Media, a producer and distributor of Indian movies, shares gained over 5 per cent in the morning trade on Tuesday after the company assured investors and said that it has “strong” fundamentals. The reaction came following a slump on domestic and international bourses after an analyst raised questions about its business operations. Sensex was down 92 points at 27,269.

11.04 am: In the 50-share index, ONGC, Lupin, Vedanta, HDFC and Cipla were down between 0.80 per cent and 1.70 per cent. On the other hand, Asian Paints, Maruti Suzuki, Dr Reddy’s Labs, Larsen & Toubro and Tata Motors were up between 0.20 per cent and 0.90 per cent.

10.55 am: Shares of JSW Energy were trading 2.44 per cent up at Rs 90.25. JSW Energy on Monday said it has proposed to delist its step down subsidiary South African Coal Mining Holding (SACMH) on Johannesburg Stock Exchange. Sensex was down 130 points at 27,231.

10.44 am: Mortgage lender HDFC on Monday said it is likely to go for public listing of its life insurance subsidiary in mid-2016 once its joint venture partner Standard Life hikes stake to 35 per cent. In August, the leading housing finance provider had announced that Standard Life will increase its stake in the JV, HDFC Life, to 35 per cent from 26 per cent, currently.

10.33 am: Mumbai-based drug maker Elder Pharmaceuticals, which is facing a severe financial crunch, is reportedly planning to repay its creditors and fixed deposit investors by raising funds through a combination of debt, equity and asset sales. The company also plans to sell its stake in its subsidiaries in the UK and Bulgaria. The share price of Elder Pharma was trading 3.75 per cent down at Rs 92.50.

10.02 am: Housing finance major HDFC was down over 2 per cent after it posted moderate growth in profit for the second quarter of 2015-16 fiscal. Sensex was down 97 points at 27,264.

9.51 am: The rupee was marginally down by three paise at 64.99 against the dollar in early trade on Tuesday due to month-end demand for the US currency from importers.

9.38 am: Nestle India stocks were trading up 0.66 per cent at Rs 6,377  after the company said on Monday that it has resumed manufacturing of its instant noodles Maggi at three of its India facilities.

9.24 am: Crompton Greaves has received an approval for sale of company’s Power Systems Business in Canada to PTI Holdings Corporation in a structured deal for an enterprise value of Canadian $20 million subject to post-closing adjustments. The Committee of Directors at its meeting held on October 26, 2015 has approved for the same. Shares of Crompton Greaves were trading 0.96 per cent up at Rs 184.95. Sensex was down 89.23 points at 27,272.73

9.16 am: Sensex was down 109.1 points at 27,252. Share price of Maruti Suzuki was up around 1 per cent in the opening trade. The company will announce its Q2 results on Tuesday.

Domestic equity markets opened in red on Tuesday on the back of weak global markets. Sensex opened 70.90 points down at 27,291.06. Nifty opened 30.2 points down at 8,230.35.

Markets in Asia slipped from their highest levels in two months, as investors stayed cautious at the start of the US Federal Reserve’s two-day policy meeting. US stocks ended Monday’s session mostly lower as renewed weakness in energy shares weighed on Wall Street.

Maruti Suzuki, Axis Bank, Lupin, Dish TV, CEAT, Coromandel International, Alembic Pharma, Thermax, Strides Arcolab, TVS Motor, Tata Comm and Vedanta to announce their results Tuesday.

On Monday, the BSE Sensex declined by 108.85 points or 0.40 per cent to 27,361.96, while the CNX Nifty lost 34.90 points or 0.42 per cent to 8,260.55.

(With inputs from agencies)