Stock markets cautious ahead of Q4 results

In a lacklustre trade, the benchmark index of the Bombay Stock Exchange, Sensex, gained 22 points on Tuesday to end at 17243.84 on select buying at lower levels amid investor caution ahead of fourth quarter corporate earnings, Reserve Bank of India monetary policy and weak European markets. The Sensex moved between 17274.69 and 17135.76 before closing at 17243.84, a small rise of 21.70 points. In the last two sessions, the Sensex had lost 375.28 points. The NSE broader 50-share Nifty also rose by a mere 9.20 points to 5243.60. Rupee at 3-month low Paring its early gains, the rupee, on Tuesday, lost 33 paise to close at 51.47/48 against the U.S. . Firm dollar overseas amid fresh capital outflows, too, dampened the rupee sentiment, a dealer said. At the inter-bank foreign exchange market, the rupee opened a bit higher at 51.13/14 a dollar from the previous close of 51.14/15. It immediately touched a high of 51.02. However, heavy dollar demand, mainly oil importers, later weighed on the rupee and it fell back to a low of 51.4950 before concluding at 51.47/48. Keywords: Sensex, Markets, stocks