Indian equity benchmarks closed lower on Tuesday, with technology stocks bearing the brunt as investors turned wary of a likely sharp hike in U.S interest rate this week.

Dear Trader… Indian equity benchmarks continued their lackluster trade in today session on account of profit booking in front line blue chip counters. The Sensex slipped by over 500 points, while the Nifty fell below 16500 level. Investors were trading cautiously ahead of the US Fed rate decision on Wednesday.