Indian share prices closed 0.26 percent lower on Tuesday to snap four straight days of gains as investors sold shares in leading companies to lock-in profits, dealers said. They said investors sold benchmark index companies but bought mid- and small-cap stocks.
The 30-share Mumbai stock exchange Sensex index fell 37.71 points to 14,478.19 after hitting its record close of 14,515.9 on Monday. The Sensex hit a new all-time intraday peak of 14,564.8 intraday Tuesday from its previous high of 14,526.51 on Monday. "The markets had risen smartly since last week. We expect a correction," said Hiten Mehta, a fund manager with Fortune Financial Services.