Mumbai, Dec 28 (IANS): Key Indian equity indices on Thursday gave up all gains to provisionally close in the red, with heavy selling pressure in banking, auto and oil and gas stocks.

"Markets ended in red post the monthly expiry. Concerns over government borrowing exceeding target also kept markets lower at end of the day's trade," Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

The broader NSE Nifty50 of the National Stock Exchange (NSE) slipped by 12.85 points or 0.12 per cent to provisionally close (at 3.30 p.m.) at 10,477.90 points -- falling below the important 10,500-level.

The barometer 30-scrip Sensitive Index (Sensex), which opened at 33,928.86 points, closed at 33,848.03 points -- down 63.78 points or 0.19 per cent -- from its previous session's close.

The Sensex touched a high of 34,023.65 points and a low of 33,752.03 during the intra-day trade.

However, the BSE market breadth indicated a bullish trend as 1,475 stocks advanced as compared to 1,288 declines.

On Wednesday, the benchmark indices slipped into the negative territory during the last hour of trade as a depreciating rupee and rising crude oil prices subdued sentiments.

The Sensex closed trade at 33,911.81 points -- down 98.80 points or 0.29 per cent -- while the Nifty50 fell by 40.75 points or 0.39 per cent to close at 10,490.75 points.