The Indian equities markets benchmark Sensex slumped 187 points on Tuesday dragged by selling pressure in auto, IT and metal stocks.
Maruti Suzuki slumped by around three per cent erasing the gains made in Monday's rally. UltraTech Cement dipped by more than two per cent.
The 30 stock S&P BSE Sensex of the Bombay Stock Exchange was trading at 61,121.56 points at around 11.02 am, which is 187.35 points or 0.31 per cent lower from its previous day's close at 61,308.91 points.
Earlier the Sensex opened in the positive at 61,430.77 points and rose to a high of 61,475.15 points in the early morning trade. Later, the Sensex slipped into negative touching a low of 60,948.04 points.
The broader Nifty 50 of the National Stock Exchange was trading 0.41 per cent or 75.45 points down at 18,232.65 points as compared with the previous day's close at 18,308.10 points.
The Nifty also opened in the positive at 18,337.20 points and touched a high of 18,350.95 points in the early morning trade. The Nifty touched a low of 18,186.20 points later in the morning trade.
There was heavy selling pressure in auto, IT and metal stocks. Maruti Suzuki slumped 2.63 per cent to Rs 8047.15. Tech Mahindra dipped 2.39 per cent to Rs 1680.45.
UltraTech Cement slumped 2.13 per cent to Rs 7700, a day after the company announced its third quarter results. UltraTech Cement on Monday said its net profit rose by 8 per cent to Rs 1,708 crore for the third quarter of the current financial year as against Rs 1,584 crore recorded in the corresponding period of the last fiscal. The increase in profit is mainly because of a one-time gain of Rs 535 crore in tax for earlier years.
HCL Technologies 1.54 per cent down at Rs 1239.75; Bharti Airtel 1.32 per cent down at Rs 718.95; L&T 1.14 per cent down at Rs 2045.80; Tata Steel 1.02 per cent down at Rs 1217.10; HDFC 0.90 per cent down at Rs 2678 and Infosys 0.89 per cent down at Rs 1922 were among the major Sensex losers.
Only eight of the 30 scrips that are part of the benchmark Sensex were trading in the positive. Axis Bank rose 1.92 per cent to Rs 726.20. HDFC Bank 0.93 per cent higher at Rs 1535.75; Titan 0.66 per cent higher at Rs 2614.40; Kotak Bank 0.53 per cent higher at Rs 1945.20; Bajaj Finance 0.42 per cent higher at Rs 7885 and Power Grid Corporation 0.27 per cent higher at Rs 206.75 were among the major Sensex gainers. (ANI)