According to analysts, the market is likely to see sector rotation from cyclicals into defensives as it consolidates ahead of the Union Budget.
At 1.40 p.m.; the 30-share index was at 25,429.14, down 154.55 points, or 0.6 per cent. It touched an all-time high of 25,387.12 and a low of 25,453.61 in trade today.
The Nifty was at 7,602.50, down 53.90 points or 0.7 per cent. It touched an all-time high of 7,700.05 and a low of 7,591.85 in trade today.
The S&P BSE Midcap Index was down 0.48 per cent and the S&P BSE Smallcap Index slipped 0.15 per cent.
Among the sectoral indices, the S&P BSE Metal Index was 1.87 per cent lower, the S^P BSE Oil & gas declined 1.38 per cent and the S&P BSE Realty Index was down 2.63 per cent.
The S&P BSE IT Index was up 2.43 per cent and the S&P BSE Bankex gained 0.51 per cent.
NTPC (2.94 per cent), BHEL (2.82 per cent), Tata Power (2.76 per cent), Hindalco (2.68 per cent) and Sesa Sterlite (2.43 per cent) were among the top index losers.
Infosys (up 4.61 per cent), TCS (up 1.48 per cent), SBI (up 1.47 per cent), Cipla (up 1.17 per cent) and GAIL (up 1 per cent) were among the major Sensex gainers.
The market breadth was positive on the BSE with 1,642 gainers against 1,281 losers.
The foreign institutional investors bought shares worth Rs 682.26 crore while domestic institutional investors were net sellers worth Rs 1,215.47 crore on Tuesday as per the provisional data from the National Stock Exchange.
ET Now spoke to various experts and here's what they have to recommend for today's trade:
Ashwani Gujral of ashwanigujral.com
Havells India Ltd is a 'BUY' call with a target of Rs 1200 and a stop loss of Rs 1150
Tech Mahindra Ltd is a 'BUY' call with a target of Rs 2100 and a stop loss of Rs 2020
Infosys Ltd is a 'BUY' call with a target of Rs 3320 and a stop loss of Rs 3200
Federal Bank Ltd is a 'BUY' call with a target of Rs 141 and a stop loss of Rs 126
Mitesh Thacker of miteshthacker.com
ZEE Entertainment Ltd is a 'BUY' call with a target of Rs 297 and a stop loss of Rs 279
Federal Bank Ltd is a 'BUY' call with a target of Rs 136 and a stop loss of Rs 128
Dr Reddy's Laboratories Ltd is a 'BUY' call with a target of Rs 2475 and a stop loss of Rs 2390
ITC Ltd is a 'SELL' call with a target of Rs 320 and a stop loss of Rs 336
Sandeep Wagle, Founder & CEO, Power My Wealth
Syndicate Bank is a 'BUY' call with a target of Rs 189 and a stop loss of Rs 171
PTC India Ltd is a 'BUY' call with a target of Rs 117 and a stop loss of Rs 99
Navneet Education Ltd is a 'BUY' call with a target of Rs 96 and a stop loss of Rs 77
Prakash Gaba, CFT, prakashgaba.com
Asian Paints Ltd is a 'BUY' call with a target of Rs 557 and a stop loss of Rs 540
Arvind Ltd is a 'BUY' call with a target of Rs 240 and a stop loss of Rs 210
Kotak Bank Ltd is a 'BUY' call with a target of Rs 960 and a stop loss of Rs 910
Ankit Chaudhary, Senior Tech Analyst, Analyse India
Cipla Ltd is a 'BUY' call with a target of Rs 440 and a stop loss of Rs 393
Wipro Ltd is a 'BUY' call with a target of Rs 570 and a stop loss of Rs 505
Ipca Laboratories Ltd is a 'BUY' call with a target of Rs 900 and a stop loss of Rs 800
Hemen Kapadia,VP, KR Choksey Shares and Securities
Bharti Airtel Ltd is a 'BUY' call with a target of Rs 370 and a stop loss of Rs 361
Wipro Ltd is a 'BUY' call with a target of Rs 541 and a stop loss of Rs 529
GAIL India Ltd is a 'BUY' call with a target of Rs 440 and a stop loss of Rs 428
(Views and recommendations expressed in this section are the analysts' own and do not represent those of EconomicTimes.com. Please consult your financial advisor before taking any position in the stocks mentioned.)
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