Sensex, Nifty Reverse Course To End Lower

(RTTNews) - Indian shares fluctuated before ending on a flat note Tuesday ahead of the Christmas holiday.

While positive global cues helped underpin sentiment in early trade, higher levels attracted profit taking in the absence of catalysts in the holiday-shortened week.

The benchmark S&P/BSE Sensex hit an intra-day high of 78,877.36 before reversing course to end the session down 67.30 points, or 0.09 percent, from its previous close.

Likewise, the broader NSE Nifty index closed down 25.80 points, or 0.11 percent, at 23,727.65, after having hit a high of 23,867.65 earlier.

Among the prominent decliners, Infosys, Titan Company, SBI Life, JSW Steel and Power Grid Corp fell 1-2 percent.

Metal stocks ended mostly lower on profit taking after rallying sharply in the previous session.

Tata Group stocks were in focus after Tata Capital, the financial services arm of the Tata Group, has started preparations for a $2 billion initial public offering (IPO).

Tata Investment Corp shares surged 4.2 percent, Tata Motors rallied 1.8 percent and Tata Chemicals soared 3.1 percent.

Biocon advanced 4.1 percent after receiving regulatory approval for a diabetics drug in the European Union.

Aarti Drugs jumped 11.6 percent after the company received the Establishment Inspection Report (EIR) from U.S. FDA for it Tarapur facility. Knowledge Marine & Engineering Works added 1.8 percent on stock-split news.