After a sharp rise of 178 points, a key index of the Indian equities markets slipped into the red around noon on Tuesday and was ruling 85 points lower about 90 minutes before the closing bell.

At 2.04 p.m., the 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened higher at 16,552.43 points, was at 16,413.4 points, 0.52 percent or 85.32 points below its previous close at 16,498.72 points.

Around the same time, the S&P CNX Nifty of the National Stock Exchange (NSE) was also in the red at 4,898.4 points, down 0.20 percent from its last close.

Broader market indices were also in the negative terrain with the BSE midcap index ruling 0.46 percent down and BSE small cap index trading 0.22 percent lower.

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