HDFC, HDFC Bank and Larsen & Toubro(L&T) were the heaviest drags on the Sensex

Domestic stock markets started Tuesday's session on a higher note but turned choppy in the first few minutes of trade. The S&P BSE Sensex declined 155.3 points from an intraday high of 39,785.02 touched early in the session. The NSE Nifty index climbed to 11,958.55, up 33.8 points from the previous close, before reversing direction to retreat as much as 57 points from that level. Losses in financial and infrastructure sectors offset advances in information technology and metal stocks.

At 9:45 am, the Sensex traded 64.07 points - or 0.16 per cent - lower at 39,619.22, while the Nifty was down 14.10 points - or 0.12 per cent - at 11,910.65.

Top laggards on the 50-scrip index were Bharti Infratel, Grasim Industries, HDFC, Larsen & Toubro (L&T) and State Bank of India, trading between 1.24 per cent and 2.61 per cent lower.

HDFC, HDFC Bank and L&T were the heaviest drags on the Sensex.

Equities in other Asian markets rose on Tuesday. Equities in Tokyo rose 0.4 per cent, Hong Kong markets were up 0.3 per cent, and Shanghai gained 0.6 per cent. Seoul share markets inched up 0.1 per cent but Singapore lost 0.4 per cent.

The Sensex and Nifty had registered record closing highs on Monday, finishing 0.63 per cent and 0.68 per cent higher respectively.

(With inputs from Agence France-Presse)