Indian equity benchmarks closed marginally lower on Tuesday after investors sold FMCG, IT, and banking stocks in the last hour of trade amid mixed global cues. The selling pressure emerged towards the fag-end of the session.

The Sensex pared away early gains to settle 48.99 points or 0.08% lower at 59,196.99. During the day, it hit a high of 59,566.67 and a low of 58,974.26. The Nifty also declined 10.20 points or 0.06% to 17,655.60.

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The broader indices ended in green with the BSE Midcap index up by 0.47% and the Small cap index up by 0.10%. The top gaining sectoral indices on the BSE were Power up by 1.90%, Utilities up by 1.74%, Oil & Gas up by 1.35%, Energy up by 1.08%, and Metal up by 0.87%, while FMCG down by 0.46%, Bankex down by 0.41%, IT down by 0.29%, Auto down by 0.10% and Consumer Disc down by 0.07% were the top losing indices on BSE.

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Major laggards from the Sensex pack were Bajaj Finserv down by 2.08%, Kotak Mahindra down by 1.14%, Hindustan Unilever down by 1.08%, Mahindra and Mahindra down by 1.08%, Bajaj Finance down by 1.03%, Nestle down by 0.84%, Asian Paints down by 0.83%, Axis Bank down by 0.79%, Maruti Suzuki down by 0.62% and UltraTech Cement down by 0.56%.

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Among the gainers were Bharti Airtel up by 2.79%, NTPC up by 2.56%, Tata Steel up by 1.54%, Reliance up by 0.98%, Power Grid Corp up by 0.60%, Dr Reddys Labs up by 0.54%, Sun Pharma up by 0.29%, ICICI Bank up by 0.28% and HCL Tech up by 0.15%.

The rupee declined by 2 paise to settle at 79.80 against the US dollar amid a lackluster trend in domestic equities.

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Asian markets ended mostly in green with the KOSPI Composite up by 0.26%, the Nikkei 225 up by 0.02%, and the Shanghai Composite up by 1.36%. However, the Heng Sang ended 0.12% down.

European stocks were trading higher during the mid-session deals. The US stock markets were closed on Monday.

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“Domestic indices wiped out its early gains to close flat, tracking mixed global cues,” said Vinod Nair, Head of Research at Geojit Financial Services.

Brent crude, the international oil benchmark declined 2.37% to $93.47 per barrel.

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According to stock exchange data, foreign institutional investors (FIIs) sold shares worth Rs 811.75 crore on Monday.