The BSE benchmark Sensex fell 70 points to 18,745 on Tuesday as investors booked profits and blue chips like RIL and BHEL dipped sharply amid a mixed trend in global stock markets.

Brokers said the market had reached high levels, leading to profit booking ahead of the first quarter earnings.

They said high borrowing costs could have crimped demand and hurt corporate earnings.

Besides, after a slight recovery on Monday, Reliance Industries dropped 2.53 per cent and contributed nearly 50 points to the Sensex fall.

On Friday, it tumbled nearly 4 per cent after CBI searched the house of the former head of DG of Hydrocarbons in a case related to inflation in exploration costs by private firms.

BHEL, was down 4.5 per cent, after reports that the government might soon approve its 5 per cent stake sale.

Marketmen also said some investors expressed concerns over possible larger fallout of political troubles in Andhra Pradesh on demands for a separate Telengana state.

Asian and European stocks showed mixed trends on lack of trigger from US markets, which closed for holiday on Monday.

Selling in other heavyweights such as ITC and Hindalco contributed to the decline, while rise in SBI, Infosys, M&M, HDFC Bank and Wipro cushioned the fall to an extent.

The Bombay Stock Exchange 30-stock index, Sensex, opened higher but fell immediately and settled the day at 18,744.56 — a loss of 69.92 points or 0.37 per cent.

The broader NSE 50-issue Nifty also declined by 18.40 points or 0.33 per cent to 5,632.10.

“The overall mood of the market is very subdued. Volumes were quite low, around 60,000-70,000 crore, which is one-third of the previous session,” said Jagannadham Thunuguntla, SMC Strategist and Head of Research.