NEW DELHI: The S&P BSE Sensex erased early gains and was trading flat in trade on Tuesday.The index had climbed over 100 points in morning trades, defying weakness in other Asian markets.The 50-share index Nifty was holding onto its crucial psychological level of 8,350.

The upside in the benchmark indices was largely capped due to losses seen in stocks such as Tata Motors, ONGC, Sun Pharma, Bharti AirtelBSE -0.67 % and Wipro.The overall market breadth remained mixed, with five out of every 10 BSE stocks trading in the green.CNX Realty fell over 2 per cent in intraday trade. DLF lost over 3 per cent in intraday trade. The stock was trading below the Rs 100-mark.

Power Finance Corporation (PFC) came under intense selling pressure, a day after the state-run company successfully concluded its offer for sale (OFS). The prevailing price was at a discount to the floor price of Rs 254 per share at which the shares were offered.Most Asian indices were quoting in the red, tracking an overall fall in the US market. Cautiousness prevailed amid ongoing concerns over China’s slowing economy after its latest data suggested a fall in industrial profits and a contraction in PMI manufacturing readings.

Meanwhile, equity investors were also keenly awaiting a two-day US Fed policy meet scheduled later in the day.China’s Shanghai Composite index recouped losses after tumbling over 4 per cent. Japan’s Nikkei lost 0.2 per cent. Korea’s Kospi and Singapore’s Straits Times were down up to 0.50 per cent. Bucking the weak trend, Hang Seng was ruling firm with 1.5 per cent gains.Snapping its four-day losing streak, rupee advanced 16 paise to 64 per against dollar in trade today.

Source : http://economictimes.indiatimes.com/markets/stocks/news/sensex-turns-choppy-dlf-slips-below-rs-100/share/articleshow/48246534.cms