In choppy trade, the Bombay Stock Exchange benchmark Sensex on Tuesday tumbled nearly two percent on profit-booking by investors ahead of the general Budget amid a weak opening at European markets.

The Sensex, which had gained over 121 points at the outset, fell 291.90 points to close at 14,493.84. It moved between 14,907.48 and 14,420.41 points following two-way movements in heavy-weight stocks.

Similarly, the 50-share National Stock Exchange index Nifty lost 99.85 points at 4,291.10, after moving between 4,426.75 and 4,267.35 points during the day.

Market-heaviest Reliance Industries fell 2.95 percent to Rs 2,023.35, Infosys Technologies 0.38 percent to Rs 1,776.90, ICICI Bank 3.57 percent to Rs 722, BHEL 1.38 percent to Rs 2,204.35, Tata Motors 7.23 percent to Rs 291.15 and Sterlite Industries 6.01 percent at Rs 607.85. All the six together carry nearly 40 percent weight in the key index.

A weak start at European stock markets also influenced trading sentiment to some extent.

The current fall pared the gains in the benchmark, which had performed extremely well this quarter, traders said.

They said investors seen liquidated their holdings to raise funds for the coming initial public offerings (IPOs) led by Mahindra Resorts and Holidays.

The realty sector suffered the most, losing 7.42 percent, after stocks of Jaiprakash Associates, the biggest builder of dams, declined 7.22 percent, and DLF Ltd and Unitech, the two largest developers, lost 8.05 and 6.68 percent, respectively, after six companies said they plan to sell shares to institutional investors.

The metal sector index was the second-worst performer, losing 3.42 percent to 10,830.90, as all the 15 participant stocks ended with losses following reports of weak trends in global market markets.

The power index fell by 3.19 percent to 2,842.34 with Suzlon Energy losing 11.44 percent to Rs 103.70 as the largest wind-turbine maker said it may sell all or part of its stake in unit Hansen Transmissions International to cut debt. All the 15 stocks in this segment were down.

The capital goods index fell 3.18 percent to 12,797.27, banks 2.45 percent to 8,211.48, oil and gas 2.32 percent to 9,390.15, healthcare 2.03 percent to 3,551.87, auto 1.98 percent to 4,558.43 and PSU 1.70 at 7,922.57. IT, FMCG, consumer durables and tech too were down.

With selling pressure spread widely, the midcap index lost 2.94 percent to 5,076.34 and the smallcap index 2.51 percent to 5,740.04.