Sensex, Nifty Pare Gains; Profit Booking, FII Selling, Weak Global Cues Cited

• Sensex and Nifty pared early gains after a sharp morning rally, slipping from day's highs due to partial profit booking.
• Sensex initially surged 668.04 points to 85,343.12, and Nifty climbed 219.35 points to 26,158.20, breaking a losing streak.
• Key reasons for the pullback include traders locking in profits after significant intraday rises.
• Foreign Institutional Investors (FIIs) continued their selling spree, offloading equities worth Rs 3,844.02 crore on Tuesday.
• Weak global market cues, with Asian and US markets showing declines, also contributed to the negative sentiment.

Why It Matters: Indices trimmed gains due to profit booking, FII selling, and weak global sentiment after an initial rally.