Mumbai: Snapping 5-day rally, the Bombay Stock Exchange benchmark Sensex fell 85 points on Tuesday on profit booking by funds on low economic growth estimates for this fiscal and a weak trend in global markets.
In highly volatile trade, the BSE 30-share Sensex dropped by 84.86 points, or 0.48 percent to 17,622.45, after climbing to 17,832.04.
The gauge, which gained over 5 percent in the last five sessions, fell as Advanced Estimates released today indicated that the country's economic growth in 2011-12 is expected to fall to 6.9 percent from 8.4 percent last fiscal.
The GDP growth projection is a tad lower than the 7 percent forecast made by the Reserve Bank in its quarterly monetary policy review last month.
Besides, a weak trend in the Asian region and lower openings in Europe amid persisting debt crisis in the euro- zone nations, especially Greece, fuelled the downtrend.
The 50-issue National Stock Exchange index Nifty also fell 26.50 points, or 0.49 percent to 5,335.15, after touching the day's high of 5,413.35.
Capital goods, realty, power and metal stocks lost up to 2.29 percent on all-round selling.
Bluechips such as Infosys, L&T, BHEL, Bharti Airtel, GAIL, HDFC Ltd, SBI, Hero MotoCorp, M&M, Maruti Suzuki, NTPC, Tata Steel, Tata Power and Hindalco closed the day in the red.