Mumbai: Caution selling, combined with profit booking and negative Asian indices dragged the Indian equity markets lower during the early morning trade session on Tuesday.
Market analysts cited, caution selling at the start of the Budget 2016 session, as the prime reason for the early morning losses.
Consequently, the barometer 30-scrip sensitive index (Sensex) of the BSE edged-lower by 102 points, or 0.43 percent.
Similarly, the wider 50-scrip Nifty of the National Stock Exchange (NSE) traded in the red. It dwindled by 31.45 points, or 0.43 percent, at 7,203.10 points.
(Also read: Rupee weakened by 14 paise, touches 30-month low)
The Sensex, which opened at 23,850.41 points, traded at 23,687.12 points (9.30 a.m.) — down 101.67 points, or 0.43 percent from the previous day’s close at 23,788.79 points.
So far during the intra-day trade, the Sensex touched a high of 23,851.51 points and a low of 23,671.66 points.
The BSE market breadth slightly favoured the bears — with 652 declines and 540 advances.