Mumbai: The NSE Nifty closed lower for the fifth consecutive session on Tuesday, weighed down by capital goods, oil & gas, steel, auto and power stocks. The market started off trade with more than 100 points gap up following positive Asian cues, but that could not sustain for long as traders opted to book profits (amid monsoon worries) in second half of trade.
The BSE benchmark rose 1.99 points to close at 17,105.30 while the NSE benchmark declined 4.4 points to 5,192.85. But the broader markets fell more than benchmarks - BSE Midcap and Smallcap indices were down over 0.8 per cent.
Tata group stocks slipped for the second consecutive session. Country's largest software services exporter TCS tanked 2 per cent and top commercial vehicle maker Tata Motors was down 1.5 per cent. Tata Steel and Tata Power went down 0.7 per cent each.
Two-wheeler manufacturer Bajaj Auto topped the selling list, losing 2.43 per cent and utility vehicle maker Mahindra & Mahindra was down 1.66 per cent.
Index heavyweight Reliance Industries turned lower after the company has warned the government about the continuous fall in gas output at its KG-D6 basin and has also expressed concern that the output may stop by 2015 if fresh capex is not announced, according to sources. Hence, to avoid such a situation, RIL along with its British partner BP has asked the government to approve a $225 million capex to stem fall from the KG-D6 basin.
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