Mumbai: Equity benchmarks fell for the first time in last seven sessions, taking a breather on Tuesday after 881-point rally on the Sensex as investors preferred profit booking ahead of holiday. Global weakness also caused selling pressure. However, the broader markets outperformed benchmarks, ending on a flat note.
The 30-share BSE Sensex declined 111.89 points or 0.41% to 27166.87 and the 50-share NSE Nifty was down 34.75 points or 0.42% at 8335.95 amid consolidation.
The market breadth was weak as about 1474 shares declined against 1282 advancing shares on the Bombay Stock Exchange.
"The current fall in market could be taken as an opportunity to buy on dips as the drops in monsoon deficiency and expectation of an improvement in spending will act as a grip to the market," says Vinod Nair of Geojit BNP Paribas Financial Services. Equity markets will remain shut on Wednesday for Ramzan Id holiday.
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