A morning walk down Dalal Street | Absence of major triggers likely to keep market under pressure

After a manic Monday D-Street witnessed a volatile Tuesday thanks to persistent selling by FIIs in key index heavyweight stocks. India markets fell for the 4th consecutive day in a row.

Sensex failed to hold on to its crucial psychological support at 38,000 weighed down by selling in HDFC twins. The index witnessed an intraday swing of more than 300 points.

Amongst the sectoral indices, FMCG, realty, power and consumer durables witnessed decent buying, while the other sectors like auto, banks, metals and healthcare were the top losers ending the session in the red.

As many as 383 stocks on the BSE hit 52-week low including Bosch, V-Mart, HEG, CEAT, M&M, TVS Motor, M&M Finance, Apollo Tyres, Ashok Leyland, Central Bank of India and Cox & Kings, among others.

Experts are of the view that in the absence of any major cues market is likely to remain under pressure and consolidation could continue for some more time.