RBI's fifth bi-monthly monetary policy meet due tomorrow also kept the investors on their toes.
In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices added 0.6% and 1.3%, respectively to touch their fresh lifetime highs.
The top gainers on the Sensex were Cipla, Bharti Airtel, Maruti Suzuki, Hero Moto & Sesa Sterlite.
The BSE Mid-Cap index was currently up 0.83%. The BSE Small-Cap index was currently up 0.8%.
'One can start accumulating economy driven stocks in the next few months with a two-three year view.'
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Benchmark share indices ended lower on profit taking after they touched record highs in the previous session.
Auto stocks Hero MotoCorp and Mahindra & Mahindra gained 1-2 per cent on the back of strong sales in the month of September.
The two-wheeler sector has been underperforming its peers on the volumes front for over five quarters now. Even in the March quarter, Bajaj Auto and Hero MotoCorp posted a 17-24 per cent YoY decline in volumes, the sharpest in the listed auto universe. The ongoing impact of frequent price hikes, all-time high fuel prices, and muted rural sentiment has led to the lacklustre showing by two-wheeler makers. What has aggravated the situation for two-wheeler companies, which get almost all their sales from the internal combustion engine or ICE-based units, is the traction for electric two-wheelers (EV).
Investors' wealth on Tuesday jumped by over Rs 2.51 lakh crore, in tandem with a sharp recovery in equities after four days of heavy declines. The 30-share BSE Sensex opened on a weak note and tumbled 581.93 points or 1.10 per cent to 52,260.82 during the day amid firming oil prices and relentless selling by foreign institutional investors. Amid bouts of volatility, the benchmark touched a high of 53,484.26 and a low of 52,260.82 during the trade. It finally settled at 53,424.09, higher by 581.34 points or 1.10 per cent.
ICICI Bank was the top loser along with index heavyweights RIL, ITC and HDFC.
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