Mumbai, Jan 31: Key equity indices on Wednesday remained lower a day ahead of Union Budget 2018 as investors were cautious. The 30-share BSE Sensex slipped below 36,000 and was trading 51 points down at 35,989. The 50-share Nifty was 6 points down at 11,043. Also Read - Sensex, Nifty Tick Higher in Opening Trade

Sentiment turned cautious as investors preferred to reduce their positions ahead of the Union budget to be presented tomorrow. Foreign funds sold shares worth Rs 105.56 crore, while domestic institutional investors offloaded equities worth Rs 281.65 crore on Tuesday, provisional data showed. Also Read - Sensex Loses Over 400 Points, Nifty Below 11,000 Mark

However, Indian Oil Corporation (IOC) gained 3 per cent on Wednesday as investors cheered the company’s financial results for the December quarter. Also Read - Market News Today: Sensex, Nifty Begin Week With Marginal Gains, Asian Shares in Focus

At 3:30 pm: Indian markets have ended in the red ahead of Union Budget 2018 with investors remaining cautious. The BSE Sensex was down 68.71 points or 0.19 per cent at 35965.02 while the NSE Nifty was down 22.00 points or 0.20 per cent at 11027.70 at closing bell. Kotak Mahindra Bank, Reliance, and Bharti Infratel were among top gainers while Tata Steel was among top losers.

On Tuesday too, Indian markets were low and ended in the red as investors remained cautious ahead of Budget 2018. The BSE Sensex closed 249.52 points or 0.69 per cent down at 36,033.73 while the 50-share NSE Nifty was 80.70 points or 0.73 per cent lower at 11,049.70 at closing bell.