Mumbai March 15 (IANS) Heavy selling pressure in IT and Teck (technology media and entertainment) stocks coupled with disappointing macro-economic data pulled the Indian equity markets lower on Wednesday.
Besides investors were cautious ahead of the US Federal Open Market Committee s meet later in the evening on whether or not to raise interest rates.
However a strong rupee pared some losses and the key indices provisionally closed marginally lower.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) inched down by 3.80 points or 0.04 per cent to 9 083.20 points
On the other hand the BSE Sensex which opened at 29 452.86 points provisionally closed at 29 387.05 points (at 3.30 p.m.) -- down 55.58 points or 0.19 per cent from the previous close at 29 442.63 points.
The Sensex touched a high of 29 500.08 points and a low of 29 358.91 points during the intra-day trade.
In contrast the BSE market breadth was marginally tilted in favour of bulls -- with 1 411 advances and 1 398 declines.
On Tuesday the benchmark indices touched new 52-week-high levels following crucial state election results declared on March 11.
The NSE Nifty gained 152.45 points or 1.71 per cent to close at 9 087 points after touching a new high of 9 120.6 points.
Similarly the BSE Sensex closed at 29 442.63 points -- up 496.40 points or 1.71 per cent after touching a 52-week high of 29 561.93 points.
--IANS
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Selling pressure in IT stocks pull equities lower (Second Lead)
