The stock markets witnessed some pressure in a range-bound activity in morning trade on Wednesday with the benchmark Sensex moving down by 42 points at 1030 hrs amid encouraging Asian advices and robust advance tax collection for the first quarter of this fiscal.
The 30-share index of the Bombay Stock Exchange was quoted at 15,655.38 at 1030 hrs, 41.52 points lower from its previous close.
The Sensex was 93 points up in early trade and then moved erratically in a range of 15,789.62 and 15,646.45.
Similarly, the broader 50-share S&P CNX Nifty of the National Stock Exchange eased by 6.20 points to 4,646.80 at 1030 hrs from its last close.
Marketmen, however, said factors such as easing global crude oil prices and robust advance tax collection are likely to boost the market sentiment during the day.
They said markets also are expected to draw support from positive change in FII activity.
Foreign Institutional Investors (FIIs), which have been net sellers to the tune of more than 5.0 billion dollar so far in the year, bought shares worth Rs 142.36 crore on June 17, as per the provisional numbers.