Sensex closes 57 points down, Nifty below 8,150-mark; ONGC top loser

The domestic markets ended in negative zone in a volatile trade on Tuesday, tracking weaker trend in other Asian markets and on profit booking by investors.

The S&P BSE Sensex closed below its crucial level of 27,000, down 57 points, while broader CNX Nifty ended at 8131.70, down 11.90 points. The 50-share index tested its key psychological level of 8,100 in today's trade.

The sentiment on the Street remained mixed with 15 of the 30 stocks ending the day in green.

Oil explorer ONGC was the top Sensex loser, which ended the day 3.7 per cent down after US and Brent crude tumbled in the previous session to post their biggest daily percentage declines since the start of September.

Software stocks remained under pressure after Infosys trimmed its US dollar revenue growth guidance, clouding the outlook for the sector.

Asian shares, which slipped from two-month highs after a strong rally, also weighed on momentum.

"Large-cap results would remain weak relative to mid-caps due to global slowdown," said G Chokkalingam, founder of Equinomics, a Mumbai-based research and fund advisory firm.

Some profit-taking is also seen amid lack of clear triggers apart from the earnings season, he added.

Brokers said sentiment turned weak despite industrial production grew at a nearly three-year high of 6.4 per cent in August on account of improvement in manufacturing as well as mining activity and better offtake of capital goods.

Retail inflation rising to 4.41 per cent in September, had a negative impact, they said.

Meanwhile, among Asian markets, Japan's Nikkei closed the day 1 per cent down, while China's Shanghai Composite ended with an uptick of 0.17 per cent. Hong Kong's Heng Sang closed 0.57 per cent down.

Overnight, US stocks closed higher and extended its winning streak to seven days, as traders looked ahead to a busy week for corporate earnings. The subdued trading followed the best week for the market this year.