Indian equities turned on negative note on Tuesday. RBI in its fourth bi-monthly monetary policy review has decided to keep repo and reverse repo rate at 8% and 7% respectively. At 2.31 p.m., the Sensex was trading down 8.85 points or 0.03% at 26,588.26 with 19 components falling. Meanwhile, the Nifty was trading lower by 5.70 points or 0.07% at 7,953.20 with 33 components falling.

Consumer Durables index climbed the most with a gain of 1.54% followed by Healthcare (1.15%) and Auto (0.65%). On the other hand Realty dropped by 1.92%. SSTL, Sun Pharma, Maruti Suzuki and Baja Auto were major gainers in the Sensex pack. On the other hand, Axis Bank, TCS, ICICI Bank and Tata Motors were top losers in the benchmark index.

The BSE Mid and small caps outperformed their larger counterparts gaining 0.21% and 0.33% respectively. Overall market breadth was positive with 1,417 advances against 1,384 declines.

Shares of HDIL, Strides Arcolab, Sterlite Technologies, L&T and Just Dial are active in the day's trade. Shares of HDIL registered a sharp rise of 1.58% today after promoters of the company have revoked all shares earlier pledged with IL&FS Trust Company and now the entire 100% shares in the promoters category is non-pledged.

Strides Arcolab witnessed a rise of 3.35% today after entering into an agreement with GMS Holdings whereby GMS will invest USD 29.10 million for a 25.1% stake in Stelis Biopharma, the biotech arm of Strides, to fund its greenfield project.

Whereas, Sterlite Technologies gained 2.61% on joint-venture agreement with VISCAS Corporation, a leading Japanese company specialized in providing power transmission and distribution systems solutions globally.

L&T shares registered a rise of 0.34% after L&T Construction has won new orders worth Rs 14.23 billion across various business segments in September 2014.

Just Dial witnessed a rise in share price of 1.03% after the company received land allocation letter from the Government of Karnataka.