Equity indices snap eight-day gaining streak

Breaking an eight-day winning streak, key Indian equity indices on Tuesday succumbed to heavy selling pressure and provisionally closed in the red.

Market observers pointed out that heavy selling pressure was observed in index heavyweights like NTPC, Bharti Airtel, Tata Motors, Infosys and Sun Pharma.

The wider Nifty50 of the National Stock Exchange (NSE) fell by 37.15 points or 0.36 per cent to provisionally close (at 3.30 p.m.) at 10,362.40 points.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 33,726.65 points, closed at 33,618.59 points -- down 105.85 points or 0.31 per cent -- from its Monday`s close.

The Sensex touched a high of 33,770.15 points and a low of 33,576.65 during intra-day trade.

However, the BSE market breadth was slightly bullish -- 1,365 advances and 1,350 declines.

On Monday, the benchmark indices closed in the green on expectations of further economic reforms, along with short covering, although negative global indices and volatility ahead of derivatives expiry capped gains.

The NSE Nifty50 gained just 9.85 points or 0.09 per cent to close at 10,399.55 points, while the BSE Sensex closed at 33,724.44 points -- up 45.20 points or 0.13 per cent.