The BSE Sensex closed 249.52 points or 0.69 per cent down at 36,033.73 while the 50-share NSE Nifty was 80.70 points or 0.73 per cent lower at 11,049.70 at closing bell. What could impress more and also give a lot of comfort to the government and policymakers is the fact that this smart rally came mainly on the back of strong buying by retail investors through domestic mutual funds.
However, investors will be keenly watching out for any announcement on LTCG on equities. One of the main reasons for this huge growth in SIP inflows is what market players describe as the "financialisation of savings and investments" due to demonetisation, which is getting a further boost by introduction of GST.
The Nifty is trading at 11,025.10 points.
The index remained in the negative zone for the major part of the session and lost 68.71 points, or 0.19% to finish at 35,965.02.
Pennsylvania Car Wash Gunman Kills Four and Wounds One
The news had been withheld for nearly two days: Timothy Smith, 28, was pronounced dead at a hospital just before 9 p.m. Snyder and Seth Cline arrived in a pickup truck, and they were both shot inside their vehicle while it was stopped.
However, Dr Reddy's Labs, Tata Steel, Lupin, UPL, Indiabulls Housing Finance were among the top losers in the Nifty pack of stocks. Intra-day, it shuttled between 35,818.41 and 36,050.69.
On Tuesday, the equity indices closed in the red on profit booking and weak global cues. However, it is not yet clear if this is the onset of correction in the segment.
"Investors are awaiting the big budget day while the expectation for this budget is muted compared to what was anticipated over the last two years". Rural economy will be the key in the budget but infrastructure development and reforms are also likely to be highlighted.