Sensex, Nifty reverses early gains on profit booking

Mumbai: The BSE Sensex turned flat paring initial gains, easing 16.36 points at 32,407.40 following mild bouts of profit-booking in capital goods, power, energy and financials sectors amid lower Asian trend.

Broader Nifty was trading below the 10,150-level. Key indices traded in small ranges as investors turned cautious ahead of the US Federal Reserve's two-day policy meeting beginning later on Tuesday.

Oil & Gas, auto, realty and industrial counters witnessed buying interest.
The Sensex resumed higher at 32,522.44 and moved in a range of 32,524.11 to 32,358.63 before quoting at 32,407.40, at 1100 hrs, marginally down by 16.36, or 0.05 per cent.

The NSE 50-share Nifty slipped from all time high level of 10,178.95, it was also trading marginally down by 8.35 points or 0.08 per cent at 10,144.75. Major losers were Coal India 1.62 per cent, Axis Bank 1.07 per cent, SBIN 0.72 per cent, ITC 0.69 per cent and L&T 0.52 per cent.

Gainers included Tata motors 4.55 per cent, Tata Motorsdvr 2.12 per cent and  Kotak Banks 1.78 per cent. Foreign portfolio investors (FPIs) sold shares worth
Rs 96.92 crore yesterday, as per provisional data released by the stock exchanges.

While, domestic institutional investors (DIIs) bought shares worth a net Rs 775.61 crore, as per provisional data. Overseas, most Asian markets were trading lower as investors awaited clues from the Federal Reserve on future
monetary policy.

The US stocks registered fresh record closing high yesterday as investors looked ahead to the outcome of a key Federal Reserve meeting on Wednesday.