Market comes under pressure after breaching 17K mark

The stock market came under pressure after breaching the 17K mark on Monday and was marginally down 24 points at 1015 hours on Tuesday due to profit selling by investors amid sustained and heavy capital inflow into equity.

Domestic investors preferred to book profits as the benchmark Sens*x crossed the 17,000 level after Finance Minister Pranab Mukherjee reiterated stimulus packages are unlikely to be withdrawn in the current financial year.

The Bombay Stock Exchange 30-share barometer was quoted at 17,008.72 at 1015 hours, a fall of 23.79 points or 0.14 per cent from the previous close.

The broader 50-share Nifty of the National Stock Exchange also dropped by 9.70 points or 0.19 per cent to 5,048.35 at 1015 hours from its last close.

Auto stocks continued to be in the limelight on robust sales growth of auto companies.