Equity indices dip lower but metal stocks shine

Equity benchmark indices gave up early gains during volatile trade on Tuesday and closed in the red. Market experts said traders booked profit across counters to realign their portfolios. The BSE SandP Sensex closed 50 points or 0.1 per cent lower at 52,104 while the Nifty 50 was down by 1 point or 0.01 per cent to 15,313. Sectoral indices at the National Stock Exchange were mixed with Nifty IT down by 1.5 per cent and FMCG by 0.7 per cent. But Nifty metal rose by 2.9 per cent and PSU bank by 1.7 per cent. Among stocks, Axis Bank lost by 2.2 per cent to close at Rs 776.55 per cent while ICICI Bank wound up 2.3 per cent lower at Rs 658.15.