REUTERS - India's stock markets fell on Wednesday in line with Asian peers as investors booked profits ahead of a long weekend and amid geopolitical concerns after militants targeted Brussels airport and a city metro station on Tuesday.
Asian shares slipped in subdued trading on Wednesday as investors pulled back on positions ahead of the long Easter weekend, opting for caution following the suspected Islamic State suicide bomb attacks in Brussels.
Indexes however were poised for a fourth consecutive weekly gain amid hopes India's central bank would cut interest rates by as much as 50 basis points at a policy review next month, on easing inflation and a government pledge to stick to its fiscal deficit target next year.
Indian markets will be closed on Thursday and Friday for public holidays.
"At this juncture, with the market having run-up very sharply and ahead of the long weekend, we are seeing some degree of pressure in our market," said Vivek Mahajan, head of research, Aditya Birla Money.
"It's more to do with the profit-booking as people do not want to keep big open positions over the weekend."
The broader NSE Nifty was down 0.29 percent at 7693.50 as of 12.07 p.m., but was headed for a 0.9 percent gain on the week.
The benchmark BSE Sensex was 0.45 percent lower at 25,216.54, but was set for a weekly gain of 1 percent.
Both indexes hit their highest levels since Jan. 6 on Tuesday, and are up nearly 10 percent so far this month.
Recent outperformers led the losers, with ICICI Bank
Among gainers, miners such as Hindalco Industries
(Reporting by Aastha Agnihotri in Bengaluru; Editing by Biju Dwarakanath)
