Trading was highly volatile throughout the day ahead of RBI's monetary policy review and Gujarat elections later this week.
At 6.30 am, Nifty futures on the Singapore Stock Exchange were trading 27 points, or 0.27 per cent lower at 10,133.50, indicating a negative start for the Nifty50 in India.
The NSE Nifty too was quoting 28.30 points, or 0.27 per cent, down at 10,099.45.
"Markets ended with marginal losses on Tuesday after a bounce back from the lows of 10,069 curbed the losses". Services sector activity slipped into the contraction territory during November, post the implementation of the goods and service tax that led to sluggish demand and lower customer turnout, a monthly survey said.
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"Broad market indices like the BSE mid-cap and small-cap indices ended with bigger losses, thereby underperforming the main indices", Jasani told IANS. The central bank is widely expected to keep policy rates unchanged tomorrow and will stay focused on controlling inflation, experts said.
In the broader markets, the S&P BSE mid-cap index closed higher by 0.41 per cent, whereas the small-cap index inched down by 0.03 per cent.
On the currency front, the rupee strengthened by 9-10 paise to close at 64.37-38 against the U.S. dollar from its last week's close at 64.47.
According to provisional data, foreign funds had bought shares worth Rs 306.11 crore on Friday.
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Sector-wise, the S&P BSE consumer durables index declined by 131 points, auto index by 130.49 points and metal index by 117.14 points.
On the other hand, the S&P BSE banking index declined by 85.91 points, auto index by 53.20 points and energy index by 22.29 points.
It saw an intra-day movement of 78.85 points. "The recent correction in PSU banks provides an opportunity for investors to accumulate as the long term prospects remains strong owing to healthy recapitalisation".
The Dow Jones Industrial Average index fell 40.76 points or 0.17 per cent to 24,231, while the S&P500 lost 5.36 points or 0.20 per cent to 2,642.
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Tata Steel, Tech Mahindra, ONGC, Hero Moto Corp and Wipro fell around 2 percent in the Nifty pack, while Indus Ind Bank, Reliance Industries, Yes Bank, Bajaj Finance and SBI climbed 1-2 percent. Find us on Facebook too!