Selling pressure pulls Indian equities lower (Second Lead)

Mumbai March 8 (IANS) Indian equity markets provisionally closed in the negative territory on Wednesday as a marginally weak rupee and heavy selling pressure witnessed in metal oil and gas and automobile stocks subdued investors sentiments.

According to market observers investors remained cautious ahead of the assembly elections results and the outcome of the European Central Bank (ECB) monetary policy review.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) slipped by 22.60 points or 0.25 per cent to 8 924.30 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE which opened at 29 021.06 points provisionally closed at 28 902.79 points (at 3.30 p.m.) -- down 96.77 points or 0.33 per cent from the previous close at 28 999.56 points.

The Sensex touched a high of 29 022.32 points and a low of 28 815.48 points during the intra-day trade.

The BSE market breadth was tilted in favour of the bears -- with 1 754 declines and 1 069 advances.

On Tuesday the NSE Nifty fell by 16.55 points or 0.18 per cent to close at 8 946.90 points and the BSE Sensex was down 48.63 points or 0.17 per cent at 28 999.56 points.

--IANS
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