Sensex pares intra-day gains to settle over 100 points lower

Following early weakness in European markets, it fell and closed lower, said Deepak Jasani, Head of Retail Research, HDFC Securities.In the previous session, the BSE index had gained 326.84 points or 0.62 percent to settle at 53,234.77 on Monday.

Benchmark BSE Sensex on Tuesday gave up intraday gains to close lower by a little over 100 points on the emergence of fag-end selling in FMCG, banking, and IT stocks and a weak opening in European stock markets.

The 30-share BSE index declined 100.42 points or 0.19 percent to settle at 53,134.35. During the day, it jumped 631.16 points or 1.18 percent to 53,865.93.

The NSE Nifty also gave up intraday gains and dipped 24.50 points or 0.15 percent to 15,810.85.

ITC, Wipro, Axis Bank, Mahindra & Mahindra, Larsen & Toubro, Maruti Suzuki India, IndusInd Bank, and Asian Paints were among the major laggards in the Sensex pack.

Power Grid, Bajaj Finserv, Hindustan Unilever, Sun Pharma, Reliance Industries, and Tata Steel were among the major gainers.

Elsewhere in Asia, markets in Tokyo, Seoul, and Hong Kong ended with gains, while Shanghai settled marginally lower.

European bourses were trading in the negative territory in mid-session deals.

The US markets were closed for a holiday on Monday.

''Nifty gave up morning gains and ended in the negative zone. Following early weakness in European markets, it fell and closed lower,'' said Deepak Jasani, Head of Retail Research, HDFC Securities.

In the previous session, the BSE index had gained 326.84 points or 0.62 percent to settle at 53,234.77 on Monday. The Nifty went higher by 83.30 points or 0.53 percent to close at 15,835.35.

Meanwhile, international oil benchmark Brent crude declined 0.88 percent to USD 112.5 per barrel.

Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 2,149.56 crore on Monday, as per exchange data.