Markets tank on profit booking

Recovery in late afternoon trades was shortlived, as both the benchmark indices ended in the red on Tuesday.

After opening in the negative zone, Sensex as well as Nifty recovered before sliding into deeper negative territory and closing down. While the S&P BSE Sensex shred 205.72 points (0.67%), to end at 30,365.25, the Nifty 50 closed below the 9,400-mark, down 52.10 points (0.55%), at 9,386.15.

“Key benchmark indices in India traded range-bound and on a lackluster note, in Tuesday’s trade. After opening in the red, markets did make a small recovery in late afternoon trade. However, the respite was short lived as both the benchmark Sensex and the Nifty finally closed the day with losses of over 0.5%,” BNP Paribas Mutual Fund senior fund manager (equities) Karthikraj Lakshmanan said.