The benchmark Sensex, on Tuesday settled moderately down by over 36 points, reacting to the decline in Asian markets as also the IT sector, despite smart rally in banking counters. IT shares continued to be at the receiving end for the last few days following rupee’s upward march in last few months as rising rupee directly impacts revenue and profits of these firms. 
These companies received large part of their revenue from exports to US. The Bombay Stock Exchange (BSE) 30-share sensitive index, Sensex, opened slightly lower at 13,948.91 and moved in a range of 14,023.86 and 13,885.46 before concluding the day at 13,929.33, a fall of 36.53 points or 0.26 per cent over Monday’s close of 13,965.86. The broad-based S&P CNX Nifty of the National Stock Exchange (NSE) also eased by 14.00 points or 0.34 per cent to 4,120.30 from previous close of 4,134.30.
Oil companies, heavyweights like RIL and ONGC, also suffered a sharp setback on profit-selling. However, banking counters attracted good buying support following Monday’s excellent Q4 results from SBI as well as expectation of cut in CRR, which helped reduce the sensex fall.