Tue close: Sensex closes 44 pts lower

The BSE benchmark index closes in red as funds and general investors book profits at higher levels.

After missing the 13,000-point milestone by less than six points, the stock market on Tuesday settled in negative territory with a loss of 44.35 points as funds and general investors booked profits at higher levels.

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The 30-share Sensex closed at 12,883.83 points, after hitting an intra-day record high of 12,994.45 within the first few minutes of commence of trading.

But the gains were pared as market players preferred to book profits, discounting robust corporate earnings announced by Tata Consultancy, HCL Tech and HDFC Bank, which saw the index dipping to the day's low of 12,819.35 points.

Similarly, the wide-based National Stock Exchange index Nifty fell by 7.85 points at 3,716.10, after touching a high of 3,742.50 and a low of 3,691.35.