Benchmark equity indices ended marginally lower on Tuesday after witnessing huge volatility during entire session. The markets kicked off trade on a quiet note tracking subdued mood in the Asian stocks and after languishing in the red for most part of the morning trades the pressure started building up as the Shanghai Composite tumbled over 3% in trade. But again some late hour buying from investors helped the key indices to erase most of their earlier losses. Short covering from F&O traders ahead of Thursday's expiry session was another reason for smaller losses on the benchmark indices. The Sensex and Nifty are once again nearing the high resistance zone, the levels from where huge sell-off was witnessed last month, which has increased apprehension among the marketmen. Auto, consumer durables and technology counters were the biggest gainers in trade while fast moving consumer goods, metal and oil & gas sector stocks where the major culprits for the crack in the benchmark indices. Broader indices managed to settle in the positive terrain. Finally, the BSE Sensex lost 49.10 points or 0.29% to settle at 17,131.08, while the S&P CNX Nifty declined 13 points or 0.25% to end at 5090.55.

The US markets, just after a day of big rally closed flat on Tuesday. It was a choppy session with indices trying to cover up their early losses in afternoon after the Federal Reserve released minutes from its latest meeting, during which it pledged to keep rates low for the foreseeable future and said inflation remained at bay. In other good economic news Conference Board's report that it's Consumer Confidence Index rose to 49.5 in November from a revised reading of 48.7 in October. But a warning from China's central bank that commercial banks there should control their lending weighed on the market. The Dow Jones Industrial Average closed lower by 17.24 points, or 0.16%, to 10,433.71. The Standard & Poor's 500 index fell 0.59 points, or 0.05%, to 1,105.65, while the Nasdaq composite lost 6.83 points, or 0.31%, to 2,169.18.

The crude prices declined on Tuesday on the worry of slow economic recovery, the government came with a data of GDP rise in quarter but it was less then expected and it revised its estimates lower, also the dollar gained against other major currencies, keeping energy prices in check. Benchmark crude for January delivery fell $1.54 to settle at $76.02 a barrel on the New York Mercantile Exchange. In London, Brent crude dropped $1 to settle at $76.46 on the ICE Futures exchange.

The Indian rupee continued its upmove on Tuesday, though the start of the domestic currency wasn't so impressive taking cue from the weak regional stock markets but it pared it losses as the dollar again went for a decline. The rupees closed at 46.38, 11 paise stronger compared to its Monday's close of 46.47. Exporters were seen selling dollars in late trades as the euro gained against the greenback.

The FII on Tuesday were the net sellers in both equity as well as debt segments. In equity segment the gross buying was of Rs 1951.30 crore against gross sell of Rs 2019.30 crore, while in the debt segment the gross purchase was of Rs 309.50 crore with gross sales of Rs 892.20 crore.

The US markets closed modestly lower on Tuesday, governments' revision of its calculation for third-quarter economic growth down to 2.8% from its original estimate of 3.5% has led the investors to think again on economic recovery. The Asian pack has made a mixed opening with some indices trading flat while some other are marginally in red. The local markets, after a choppy session closed modestly lower in previous session; today the global cues are again indicating a quiet start for the domestic markets.

Support and Resistance: S&P CNX Nifty and BSE Sensex

                                                             Nifty Top volumes

• Suzlon Energy has shifted most of its management operations back to its headquarters in Pune.
• Hindalco Industries raised $600 million Rs 2,900 crore by selling shares to institutional investors in order to part-finance its three greenfield projects.
• Chhattisgarh government has identified land for Tata Steel's proposed 6 million tonne integrated greenfield steel plant.
• Bharti Airtel has launched the pay-per-second plan on its virtual calling card service, ' Airtel CallHome', for its customers in the US.
• Steel Authority of India has again extended its mega expansion plan to be completed by 2012-13 only.