The 30-share Sensex dropped 0.49 per cent or 205.10 points to close at 41,323.81 today, while the 50-share Nifty shed 0.45 per cent or 54.70 points to close at 12,169.85 today. In the Sensex pack, 21 of 30 stocks closed lower, while for the Nifty, 12 closed in the green, 37 in red, and 1 remained unchanged. Midcap and Smallcap indices out-performed the benchmarks. The BSE Midcap index shed only 0.21 per cent, while the BSE Smallcap index closed unchanged.
Benchmark equity indices ended Tuesday's session on a poor note, in line with the weakness in world equities, after the International Monetary Fund (IMF) slashed its growth outlook for India. Moreover, a muted Q3 earnings season also weighed on sentiment on the Street.
Nifty50 fell for the third straight session on Tuesday to end below the 12,200 mark. The index had a gap-down start and made no attempt to erase Monday's big losses. The index formed a Small Bearish Candle on the daily chart and sent out a 'sell' signal on momentum indicator MACD, suggesting some correction in the coming days. A close below 12,150 level will accentuate the decline, dragging the index lower to the 12,130-12,040 zone. On the upside, once the Nifty goes beyond the 20-DMA placed at 12,230, the upward journey will be resumed towards the 12,300-12,370 zone.