Markets snapped its 10-day winning streak as investors booked profits at higher levels in banking, oil & gas and capital goods stocks.
Sentiment came under pressure on Tuesday after HSBC Purchasing Managers' Index data showed that economy's largest sector -- services -- continued to contract in the month of March.
Both Sensex and Nifty slipped in morning deals after hitting ninth consecutive fresh intra-day highs, and extended losses in noon deals.
However, a recovery from lower levels in the last hour of trade led by buying in banking, metals and realty stocks, capped losses.
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