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“The market is more news flow driven and so while in today’s market, in intraday we have seen the largecap index recovering, that recovery is not visible in the midcaps and smallcaps and certainly not in the individual stocks and more so not in the stocks which retail investors have been holding in general. It does not look like a comfortable point has been reached for bottom fishing. ”

Jagsonpal Pharma hit its upper circuit. KIOCL and Indiabulls Real Estate saw some buying. Apollo Pipes was also in demand among the investors.

The Nifty Realty index closed 2.91 per cent down at 430.0.

Hardening crude oil prices pose a major upside risk to India’s inflation and exert pressure on the trade deficit, given that the country is a massive importer of the commodity.

​​A meeting of the committee of the board on Tuesday approved the allotment of 3,000 secured redeemable non-convertible debentures (NCDs) of a face value of Rs 10 lakh each, aggregating to Rs 300 crore through private placement, Mahindra Finance said in a regulatory filing.

The safe-haven yen hit a near three-week high and the euro and riskier currencies fell on Tuesday as Russia ordered troops into breakaway parts of eastern Ukraine and the region stood on the brink of war.

“Could crude price get to $130? We have seen it before and there is a longer way to go before it gets to that level. I do not think a lot of the economies can handle oil at that level. So, it may spike through that $100-$105, but I feel diplomacy will prevail and prices will then come lower.”

The Nifty Pharma index closed 0.58 per cent down at 12954.5.

“No mark is given out for being extra brave. You just need to be averagely brave to make money. You do not need to bare your chest and scream “bring it on, I will take it on my chest.” So stay put. There are stocks getting more and more attractive. As long as the fundamentals hold, they will become good buys once the dust settles down.”

The stock quoted a 52-week high price of Rs 5654.0 and low of Rs 3145.0.