Mumbai, Dec 30 (IANS): Unwinding of long positions ahead of the derivatives expiry, coupled with profit bookings, subdued Indian equity markets on Wednesday.

This led to a barometer index of the Indian equity markets to provisionally close deep in the red. It ended lower by 114 points.

Initially, both the bellwether indices of the Indian equity markets opened on a flat note in sync with their Asian peers.

Nevertheless, expectations that Nifty will breach the 8,000-level mark and a positive close of the US markets on Tuesday due to healthy consumer confidence data pushed up prices.

However, markets soon ceded their gains, as lack of investors' participation coupled with unwinding of long positions ahead of the futures and options (F&O) expiry depressed sentiments and prompted some investors to book profits at higher levels.

Latest data with the stock exchanges showed that the volumes in cash markets across key bellwether indices eased to Rs.17,000 crore on Tuesday.

Besides, investors were seen cautious regarding the upcoming third-quarter earnings season which starts from January 14.

The barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) provisionally ended the day's trade lower by 114 points, or 0.44 percent.

Similarly, the wider 50-scrip Nifty of the National Stock Exchange (NSE) closed in the red. It ended lower by 33.05 points, or 0.42 percent, at 7,895.90 points.

The Sensex of the S&P BSE, which opened at 26,123.87 points, provisionally closed at 25,965.32 points (at 3.30 p.m.) -- down 114.16 points or 0.44 percent from the previous day's close at 26,079.48 points.

The Sensex touched a high of 26,130.20 points and a low of 25,939.25 points during the intra-day trade.