Extending previous session's downfall, equity benchmarks witnessed weak start on Tuesday and edged lower as the day progressed. Participants upheld the cautious approach due to prevailing volatility and preferred profit taking throughout the day. However, marginal rebound in the last half an hour pared some intraday losses and aided index to close marginally in red. In line with benchmark, majority of sectoral indices traded weak and market breadth was also reflecting the same bias.

At the close, the benchmark 30-share index, BSE Sensex lost 112.47 points or 0.41% at 27,531.41.  Meanwhile, the broad based NSE Nifty fell by 30.90 points or 0.37% at 8,339.35.  

Commenting on the outlook, Jayant Manglik, President-retail distribution, Religare Securities said, "We reiterate our sell on rise view on Nifty index for the next session as well; however, erratic moves will continue on stock specific front due to prevailing earning season and upcoming F&O expiry. So, traders are suggested to maintain extra caution in stock selection and avoid overleveraging."

Meanwhile ​Rakesh​​ Goyal,​ ​Senior Vice President,​ ​Bonanza Portfolio opined, "Markets are currently discounting the probable turbulence in Eurozone and the deterioration of financial liquidity for Greek government combined with political uncertainty in Spain. The probability of rate hikes by Fed in coming quarters, coupled with Eurozone fears and instability in crude inventory would keep Rupee/Dollar rates volatile and thus the Indian markets as well. We believe the markets to remain weak for upcoming trading sessions and remain between 8,100-8,400 in the near term.​"

GEPL Capital said, "The Nifty is slowly rising in stature. After a stellar performance on Monday & bit of consolidation yesterday, Nifty has shown some amount of strength today. Till the time it maintains 8,220-8250, there is high probability that Nifty tests upside resistances at 8,500-8,550 as shown in the charts."

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