MUMBAI: Caution ahead of the release of major domestic macro-economic data points, along with heavy selling pressure witnessed in oil and gas, automobile and energy stocks, suppressed the Indian equities markets on Tuesday.
However, loses were pared on the back of higher foreign fund inflows and broadly positive global indices.
The macro-data included the second advance estimates of national income, 2016-17, along with the estimates of Gross Domestic Product for the third quarter of 2016-17, and the Index of ECI (eight core industries) figures for January. These data points were slated to be released later on Tuesday.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged down by 17.10 points or 0.19 pct to 8,879.60 points.
The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,825.19 points, closed at 28,743.32 points -- down 69.56 points or 0.24 pct from the previous close at 28,812.88 points.
The Sensex touched a high of 28,876.54 points and a low of 28,721.12 points during the intra-day trade.
In contrast, the BSE market breadth was tilted in favour of the bulls -- with 1,438 advances and 1,360 declines.
In terms of the broader markets, the BSE mid-cap rose by 0.14 pct and small-cap index was up by 0.59 pct.
On Monday, the benchmark indices ended lower on the back of negative global cues and outflow of foreign funds.
The NSE Nifty edged down by 42.80 points or 0.48 pct to close at 8,896.70 points, and the BSE Sensex fell by 80.09 points or 0.28 pct to 28,812.88 points.
"Markets ended lower on Tuesday for the second consecutive session, though nominally," Deepak Jasani, Head - Retail Research, HDFC Securities, told IANS.
"Major Asian markets have ended on a positive note, barring the Hang Seng and Straits indices. European indices like FTSE 100 and CAC 40 too traded higher."
According to other market observers, GDP data release as well as US Fed's speeches kept traders on the back foot.
"Markets were also waiting with interest US President Donald Trump's address of joint session of the Congress tonight (Tuesday), which might throw light on plans on tax reform and infrastructure spending," said Anand James, Chief Market Strategist, Geojit BNP Paribas Financial Services.
"With nearly Rs 7,000 crore worth IPOs (initial public offerings) about to hit markets, investors may be in wait mode, but with major initiatives being mooted to boost Make in India programme, markets do not show signs of cracking."
The Indian rupee, which hit a three-month high on Monday, closed flat at 66.69-70 against a US dollar.
In terms of investments, the provisional data with exchanges showed that foreign institutional investors (FIIs) purchased stocks worth Rs 1,146.23 crore, whereas the domestic institutional investors (DIIs) bought scrip worth Rs 268.34 crore.
Commenting on the sector-specific movement, Dhruv Desai, Director and Chief Operating Officer of Tradebulls, said: "IT stocks faced profit booking at higher levels and traded with bearish sentiments."
"Banking, pharma, auto, oil-gas, media-entertainment and FMCG stocks traded with mixed sentiments, while textile, aviation and telecom sector stocks traded firm due to buying support."
Sector-wise, the S&P BSE oil and gas index plunged by 183.36 points, followed by the automobile index, which slipped by 52.40 points, and the energy index, which fell by 33.60 points.
On the other hand, the S&P BSE capital goods index surged by 102.24 points, the metal index rose by 50.50 points, and the consumer durables index edged up by 32.03 points.
Major Sensex gainers on Tuesday were: Bharti Airtel, up 2.66 pct at Rs 365.15; Asian Paints, up 2.29 pct at Rs 1,024.45; Adani Ports, up 1.68 pct at Rs 301.75; Mahindra and Mahindra (M&M), up 0.84 pct at Rs 1,306.95; and Sun Pharma, up 0.61 pct at Rs 678.95.
Major Sensex losers were: Coal India, down 2.48 pct at Rs 321.80; Bajaj Auto, down 1.56 pct at Rs 2,758.25; NTPC, down 1.24 pct at Rs 163.10; Hero MotoCorp, down 1.05 pct at Rs 3,135; and Tata Consultancy Services (TCS), down 0.90 pct at Rs 2,466.50.
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