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Sensex down nearly 50 points, Nifty closes below 8950

Indian stokes fell on Tuesday after hitting 2-year closing highs in the previous session, since investors booked profits ahead of state elections results, including that of the key state of U.P. 

The Sensex closed at 28,999 levels, down  by 48.63 points or 0.17%, while Nifty 50 closed at 8,946 levels, down by 17 points or 0.2%. There were 667 advancing stocks, 959 declining stocks and 297 stocks unchanged on NSE, showing bearish undertone in the market. 

Metal and mining stocks declined on China's growth concerns. Adani Ports and Special Economic Zone were up 1.7%, ONGC rose 1.34%, and TCS up 1.31%, who were major gainers from the 30-share Sensex pack. 

Overseas, European and Asian stocks registered a mixed trend amid hopes for a rate hike announcement in the US this month. The rupee was trading at 66.67 against the US dollar in the afternoon session. Oil prices were trading at USD 53.26.

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Sensex down nearly 50 points, Nifty closes below 8950


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