Indian share prices closed down 0.62 percent on Tuesday, snapping two days of gains amid fears that the US housing slump and credit crunch could derail American economic growth, dealers said. They said Asian markets recovered marginally after opening sharply down on Tuesday following overnight losses on Wall Street.
The benchmark 30-share Sensex index fell 119.81 points to 19,127.73. The metal, banking and power sectors posted losses, but mid- and small-cap indices rose on select buying. Dealers said the markets could correct further ahead of the expiry of the monthly futures trading contract on Thursday.
The markets awaits US economic data on home sales expected mid-week. "The markets saw almost directionless trading, unable to pull out of a weak Asian market trend. The markets could correct further ahead of the monthly derivatives contract expiry," said Manoj Kakaiya, a ULJK Securities dealer.
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