GST, selling pressure spook investors, markets close lower

Caution ahead of the implementation of Goods and Services Tax (GST) and heavy selling pressure in banking, capital goods and automobile stocks pulled the Indian equity markets lower on Wednesday.

Investors also remained cautious ahead of derivatives expiry on June 29, Thursday.

The wider Nifty of the National Stock Exchange (NSE) fell by 64.10 points, or 0.67 per cent, to provisionally close at 9,510.85 points (at 3.30 p.m.).

The 30-scrip Sensitive Index (Sensex) of the BSE closed below the 31,000-mark at 30,958.25 points -- down 179.96 points, or 0.58 per cent, from its previous close at 31,138.21 points.

The Sensex touched a high of 31,294.96 and a low of 30,847.08 points during intra-day trade.

The BSE market breadth was bearish -- with 1,874 declines and 718 advances.

--IANS

ppg/vt