The Sensex and the Nifty fell on Tuesday to snap a three-day winning streak as stocks of blue chips such as Larsen and Toubro fell due to profit taking after upbeat US economic data raised fears the Federal Reserve would reduce its monetary stimulus.
The BSE Sensex fell 0.21 percent, or 43.09 points, to end at 20,854.92, retracing from nearly a month-high level hit on Monday The broader Nifty lost 0.26 percent, or 16 points, to end at 6,201.85.
Nifty futures has seen a move over 3% along with a considerable rise in futures open interest by around 11%, indicating long addition of positions seen in the market. FIIs, too, added long positions in the index futures, as they infused over Rs 1,200 crore, with a rise in futures OI by 11%. However, the India VIX index, which ideally works inversely with the Nifty, has been moving in line with the market, as it witnessed a sharp rise from 21 to around 25 levels in the last couple of days,indicating a further increase towards 27-28 levels, and it may invite some profit-booking in the market.
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