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India share market ends down, investors turn cautious

Indian share market closed today with a cautious alarm by the investors and they booked profits after a recent rally that pushed up the benchmark index to its highest close in nearly seven months in the previous session.

BSE Building Mumbai

BSE Building Mumbai

The 30-share BSE closed down 1.54%, or 283.36 points, at 18,145.25, with 24 of its components in the red. The markets is looking towards the federal budget and central bank policy review, both due in mid-March, for positive triggers, dealers said.

Bombay Stock Exchange

Deven Choksey, Managing Director of KR Choksey said, “The market had a run-up ahead of the budget itself and is seeing some correction now.” The Central Bank reviews policy on March 15, and the government will disclose its annual budget on the following day.

In the broader market, there were 1268 losers against 227 gainers on volume of 1.30 million shares. The 50-share NSE index ended at 1.82% at 5505.35

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