Sensex settled at 60,433.45, down 112.16 points or 0.19%, while the broader NSE Nifty declined 24.30 points or 0.13% to end at 18,044.25
64% or 32 constituents of Nifty 50 are trading at a significant premium to their historical averages.
The broader market outperformed. The S&P BSE Mid-Cap index gained 0.81% while the S&P BSE Small-Cap index added 0.67%.
The market breadth was positive as shares 1,674 advanced while 721 declined and 96 remained unchanged.
Wall Street stocks ended slightly higher on Monday, rising early after the passage of a US infrastructure spending bill.
Sensex rallied 477.99 points or 0.80% to end at 60,545.61, while the broader Nifty closed at 18,068.55, up 151.75 points or 0.85%.
IndusInd Bank, diving over 10%, was the top Sensex loser followed by Asian Paints, Sun Pharma, M&M, Reliance Industries and HDFC Bank
Traders can opt for stock specific trades as we have been witnessing strong out performance from individual space.
The correction phase is largely going to expand even post-Diwali as emerging macro challenges are posing a few serious threats to the market.
Sensex ended at 59,771.92, down 257.14 points or 0.43%, while Nifty closed 59.75 points or 0.33% lower at 17,829.20