BSE Sensex slips 34 points, investors wary
BSE Sensex falls marginally ahead of national budgetThe BSE market was overall negative on Wednesday as 1538 shares declined, 1163 shares advanced and 64 shares remained unchanged.
The broader 50-share S&P CNX Nifty index of the National Stock Exchange (NSE) fell 0.18 percent or 9.15 points to close at 5,135.50 after touching a high of 5159.05 and a low of 5101.25 during intraday trade.
"There were some issues in China and Hong Kong and crude is going higher and higher. These concerns were there and the market consolidated," said Dewan, director, Quantum Stock Broking.
"The market is likely to remain rangebound in the short-term. The next 2-3 months, the thrust is surely downward. The biggest worry for Indian equities is inflation. It will be difficult for the RBI to bring inflation under control. We do not expect food prices to moderate in the near future," said Sangeeta Purushottam, head of institutional business, Religare Securities.
Elsewhere in South Asia, Pakistan's Karachi 100 rose 0.32 percent to 14,455.29, but Sri Lanka's Colombo All-Share and Bangladesh's Dhaka Stock Exchange slid 0.11 percent and 0.55 percent to 2,642.63 and 3079.09 respectively.
The Asian markets gave mixed results. Hong Kong's Hang Seng slipped 2.48 percent to 25,610.21; China's Shanghai Composite plunged 4.13 percent to 3579.15; and Singapore's Straits Times declined 0.61 percent to 3228.95.
However, Taiwan's Taiex advanced 0.78 percent to 8926.34; Indonesia's Jakarta Composite gained 0.46 percent to 2382.70; and Malaysia's Kuala Lumpur Composite climbed 0.87 percent to 1287.15.
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