Mumbai, Sep 20 (IANS): Indian equity markets were dragged lower on Tuesday by negative global cues and caution ahead of major global financial events.
Both the key indices provisionally closed the day's trade in the red, as profit-booking and selling pressure at higher levels capped gains.
Heavy selling pressure was witnessed in automobile, capital goods and banking stocks.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged down 32.50 points, or 0.37 per cent, to 8,775.90 points.
The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,690.66 points, provisionally closed at 28,523.20 points (at 3.30 p.m.) -- down 111.30 points or 0.39 per cent from the previous close at 28,634.50 points.
The Sensex touched a high of 28,698.81 points and a low of 28,480.53 points during the intra-day trade.
The BSE market breadth was tilted in favour of the bears -- with 1,540 declines and 1,173 advances.
On Monday, the benchmark indices had ended on a flat-to-positive note, as fresh foreign fund inflows, higher crude oil prices and value buying kept the sentiments buoyed.
The barometer index had risen by 35.47 points or 0.12 per cent, while the NSE Nifty edged up by 28.55 points or 0.33 per cent.