Indian Equities End Lower on Tuesday Amid Profit Booking

Indian equities ended a volatile session slightly lower on Tuesday as investors booked profits following recent gains.

However, hopes of a potential U.S.-China trade deal and expectations of another U.S. Federal Reserve rate cut helped cap the downside.

At close, the BSE Sensex slipped 150.68 points, or 0.2%, to 84,628.16, while the NSE Nifty 50 declined 29.85 points, or 0.1%, to 25,936.20.

IndusInd Bank (NSE:INDUSINDBK, BOM:532187) led the gainers with shares up nearly 4%, followed by Tata Steel (NSE:TATASTEEL, BOM:500470) and JSW Steel (NSE:JSWSTEEL, BOM:500228).

Coal India (NSE:COALINDIA, BOM:533278), Trent (NSE:TRENT, BOM:500251), and Bajaj Finserv (NSE:BAJAJFINSV, BOM:532978) were among the top laggards.

In earnings, CarTrade Tech (NSE:CARTRADE, BOM:543333) reported a rise in consolidated attributable profit to 596.6 million rupees for the fiscal second quarter ended Sept. 30 from 278.8 million rupees a year earlier. Revenue from operations also increased to 1.93 billion rupees from 1.54 billion rupees.

Aditya Birla Real Estate (NSE:ABREL, BOM:500040) swung to a loss of 157.4 million rupees in fiscal Q2 from a profit of 25.8 million rupees a year earlier, as revenue declined to 967.7 million rupees from 2.62 billion rupees.

In corporate updates, SpiceJet (BOM:500285) added two Boeing 737 aircraft and reintroduced a Boeing 737 MAX into its fleet, bringing total additions this month to five, including one Airbus A340.

Meanwhile, KPI Green Energy (NSE:KPIGREEN, BOM:542323) received charging approval for 40.96 MW of solar and hybrid power projects developed for clients of the company and its subsidiary, Sun Drops Energia.