After four consecutive sessions of gains, the Indian equity markets slipped from high levels to trade in the red during the mid-afternoon session on Friday.
Market observers pointed out that investors were cautious ahead of the release of major macro-economic data -- the new series of Wholesale Price Index (WPI) and Index of Industrial Production (IIP) data with the revised base year of 2011-12 -- slated to be released later in the evening.
Negative global cues and heavy selling pressure in banking and healthcare stocks, too, added to the downward trajectory.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) slipped below the 9,400-mark and traded at 9,388.10 points (at around 1.15 p.m.) -- down 34.30 points or 0.36 per cent.
The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 30,285.61 points, traded at 30,163.24 points -- down 87.74 points or 0.29 per cent from its previous close at 30,250.98 points.
The Sensex has so far touched a high of 30,299.74 points and a low of 30,141.21 points.
The BSE market breadth was bearish, with 1,744 declines and 852 advances.
Dhruv Desai, Director and Chief Operating Officer of Tradebulls, said the equity benchmark indices started off on a weak note tracking mixed global cues.
"Investors remained cautious ahead of key macro-economic data to be announced later today, including WPI and IIP numbers. Both the benchmark indices slipped in red in early trades on lack of buying support," Desai told IANS.
On Thursday, the key Indian indices had surged to new highs as substantial inflow of foreign funds, and an appreciating rupee buoyed investors' sentiments.
The NSE Nifty recorded a new closing high of 9,422.40 points and the Sensex of 30,250.98 points.
The benchmark indices also touched record intra-day highs, as well as new 52-week highs. The Nifty scaled a new intra-day high of 9,450.65 points and the BSE Sensex of 30,366.43 points.
--IANS
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