Mumbai, Dec 24 (TIWN) The two biggest index contributors Reliance Industries and HDFC Bank on Tuesday dragged the key equity indices lower.

HDFC Bank fell 1% while RIL declined 1.6%. Among other losers, HDFC lost 0.46% while L&T slipped 0.73%.  "Markets were choppy on expected lines as institutions remain on sidelines due to Christmas. Going forward till the 1st week of January markets are expected to remain range-bound and choppy without much activity. Metals continue to shine and the good performance is likely to continue. We continue with our broader bullish view on the index and maintain our target of 12,400-12,450. Near term, support is placed at 12,150," said Manav Chopra of Indiabulls Ventures Ltd.