The market on Tuesday drifted lower on back of weak Asian and European markets. The Sensex and Nifty ended with a loss of around 1%. Among the sectoral indices BSE Metal, BSE Capital Goods and BSE IT witnessed a major loss of 2%. However, the BSE Midcap and Small cap bucked the trend, registering a gain of 1% and 0.5% respectively. Asian markets drew back on the worries of rising crudeoil  prices and higher raw-material prices hurting shares particularly airlines and steel makers. Among the frontliners, HDFC Bank, HDFC, ICICI Bank, Bharti Airtel and BHEL gained 0.1-5%, while Ranbaxy, Tata Steel, Jaiprakash Associate, Wipro and L&T lost ground by 3- 5%. In the mid-cap segment, S. Kumar Nationwide, Yes Bank, IL&FS Investsmart, Kolte Patil Dave and Orchid Chemicals gained 10-16%, whereas Madras Aluminum, India Cement, Elecon Engineering, Bilcare and Kansai Nerolac Paints lost 4-5%.

The trend deciding level for the day is 4719 / 15612. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally upto 4760 / 15746. However, if NIFTY trades below 4719 / 15612 for the first half-an-hour of trade then it may correct upto 4668 –4627 / 15455- 15322. Read More