Indian markets erased the early gains and ends in red

The 30 scrips benchmark Sensex and Nifty both were trading with the huge volatile by tuesday. By afternoon, Sensex was traded with almost 100 points gain and by closing it erased all those gains. The sell-off in most sectors lead by technology, realty, capital goods, power, oil & gas exploration pulled the Sensex below the 20,000 mark in the last one hour of trade, for the first time since September 29.

The market started the day on a strong note but could not sustain that for long. Importantly, in the last one hour of trade, both benchmarks slipped sharply due to profit booking. In large cap GAIL, Cipla, SAIL, ICICI Bank, BPCL and Dr Reddys Labs were on buyers' choice and they barred some losses to certain extend.

The 30-share BSE Sensex closed at 19,983.13, down by 185.76 points and the 50-share NSE Nifty fell 48.65 points to settle at 6,027.30.

Infosys was the top loser on Nifty today which was down by 3% and TCS, Wipro as well as HCL Tech also declined 0.7-1.6%. The BSE IT Index fell 2.2%. Heavyweight SBI slipped 1.6%. HDFC Bank, HDFC, Axis Bank and Kotak Mahindra Bank were down 0.5-1.2%. IDFC felt by 2.65%. However, ICICI Bank rose just 0.3%. DLF from realty segment lost 2.16%. Infrastructure space also witnessed selling pressure; L&T, BHEL and Siemens declined 0.7-1%. In power pack, NTPC, Reliance Power, Power Grid and Tata Power went down 1.3-1.8%. Reliance Infrastructure was down 0.8%.