BSE Sensex ends marginally lower; down 13 points

The Sensex fell on Wednesday, snapping a three-day winning streak, as lenders such as ICICI Bank declined on caution ahead of quarterly economic growth data and the expiry of May derivative contracts later this week.

The falls tracked lower Asian and European stocks as data showing accelerating US home prices and surging consumer confidence fanned speculation the Federal Reserve may taper its bond-buying programme.

Trading may remain volatile ahead of the expiry of May derivatives contracts on Thursday, with investors also watching January-March economic growth data due on Friday.

"GDP data is very important in the context of falling inflation and interest rates, anything less than five per cent will not be good for markets," said R K Gupta, managing director at Taurus Mutual Fund.

Rupee depreciation despite strong foreign flows is also a cause of concern, Gupta added.

The benchmark BSE Sensex inched down 0.07 per cent, or 13.18 points, to end at 20,147.64.

The broader Nifty drifted down 0.11 per cent, or 6.95 points, to end at 6,104.30, still above the psychologically important 6,100 level.

Lenders were among the day's decliners, with ICICI Bank falling 1.4 per cent and State Bank of India falling 1.1 per cent ahead of January-March GDP data due this Friday.

Shares of Housing Development and Infrastructure fell 6.8 per cent after the company reported a loss of Rs 280 crore for the March-quarter, and also received a termination notice from Mumbai International Airport for its slum rehabilitation project.

Wockhardt fell 10 per cent, its limit for the day, on renewed concerns about potential further action after the US Food and Drug Administration imposed an 'import alert' on a plant operated by the generic drugmaker last week, analysts said.

However, among stocks that gained, Sun Pharmaceutical Industries rose seven per cent after hitting an all-time high of Rs 1,080.70 earlier, after its net profit rose more than expected and its management guided for robust sales growth in FY14.

Shares in Sun TV Network gained 4.2 per cent on better-than-expected response after the television broadcaster set a floor price of Rs 403 per share in the sale of a partial stake from promoter Kalanithi Maran.