Sectorally, gains in auto, financials, FMCG, metal and private banking were capped by losses in IT, media, PSU Bank, pharma and realty stocks 
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Sectorally, gains in auto, financials, FMCG, metal and private banking were capped by losses in IT, media, PSU Bank, pharma and realty stocks Sensex and Nifty gave up early gains and closed marginally lower on Tuesday, amid negative opening in European markets and weakness in SGX Nifty. Extending fall for the second straight session, Sensex closed 45 points lower at 34,915 and Nifty fell 10 points to 10,302. Sensex and Nifty have gained 18.5% and 19.8% in Q1, respectively logging their best performances since the June quarter of 2009, after hitting a 4-year low in Q4. However, both benchmarks are still down around 15% for the year.
While PowerGrid, BPCL, Sun Pharma, TCS, Infosys, HDFC Bank and Kotak Bank were among the losers, Tata Steel, Axis Bank, Bajaj Finance, L&T, SBI, IndusInd Bank, ICICI Bank, HDFC and Reliance Industries were among the top gainers of today's session. Sectorally, gains in auto, financials, FMCG, metal and private banking were capped by losses in IT, media, PSU Bank, pharma and realty stocks.
In opening session, domestic indices were trading higher on gains from global benchmarks that were buoyed by positive macroeconomic numbers from the US and China. Sensex opened 222 points higher at 31,183 and Nifty climbed 68 points to 10,380.
Later, markets pared opening gains and traded muted in afternoon session amid volatility in global equities. Traders said investors were concerned over the recent spike in coronavirus cases and also awaiting India's core sector data today.
Commenting on today's volatile session, Vinod Nair, Head of Research at Geojit Financial Services said,"The markets were impacted by the uncertainties surrounding PM's address to the nation. Irrespective of this, many Indian cities, are extending their lockdowns in the face of unabated growth in virus infections, which has added to the uncertainty surrounding economic recovery."
"The market direction for tomorrow may also largely be guided by the content of the PM's address and global cues," he added.
Besides the outcome of PM Modi's speech today, the auto sales data will also be closely watched by the participants to access the pace of recovery in the economy, said Ajit Mishra, VP - Research, Religare Broking.
Meanwhile, Vodafone Idea, IRCON International, RITES, MIDHANI, Deepak Fertilisers, Godfrey Phillips, Dish TV, Allcargo Logistics, Goa Carbon, Liberty Shoes, NBCC, National Fertilisers, Steel Strips Wheels, Healthcare Global, ONGC, Bajaj Healthcare, Cera Sanitaryware, Cupid, Hindustan Motors, Lovable Lingerie, Nirlon and Rajesh Exports among others will report Q4 FY20 earnings today.
As per Nifty's technical indicators, there is increasing evidence of 10,000 emerging as the near-term support, with 10400-10450 as resistance levels to watch out for.
On Nifty's near term outlook, Ajit Mishra, VP - Research, Religare Broking said, "Nifty has been hovering within 10,200-10,400 for the last four sessions and either side break may trigger the next directional move."
Worldwide, the number of cases linked to the COVID-19 disease has crossed 1.02 crore and the death toll has topped 5.04 lakh. In India, the number of infections spiked to 5,66,840, according to the health ministry. The death toll in India due to COVID-19 rose to 16,893.
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