Equity indices end in red on global cues, weak rupee

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Mumbai, Aug 24 (IANS) The key Indian equity indices closed in the negative territory on Friday, tracking broadly negative cues from the global markets. Weakness in the Indian rupee also dampened the sentiments in the domestic market, analysts said.

Heavy selling pressure was witnessed in the banking, capital goods and auto stocks during the day.

Market sentiments in both the domestic and global markets were subdued as China and the US could not make a major breakthrough in their recent round of talks. Rather, the trade war escalated on Thursday as both the countries enforced 25 per cent tariffs on each other’s goods worth $16 billion.

At 3.30 p.m., the Nifty50 on the National Stock Exchange (NSE) provisionally closed at 11,557.10 points, lower by 25.65 points or 0.22 per cent from its previous close of 11,582.75 points.

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The benchmark S&P BSE Sensex, which had opened at 38,366.79 points, closed at 38,251.80 points, lower by 84.96 points or 0.22 per cent from the previous close of 38,336.76 points.

It touched an intra-day high of 38,429.50 points and a low of 38,172.77 points.

The top gainers on the Sensex were Vedanta, ONGC, Axis Bank, Wipro and Mahindra and Mahindra while Yes Bank, Hero MotoCorp, ICICI Bank, Adani Ports and IndusInd Bank lost the most.

On the NSE, the major gainers were Vedanta, ONGC and Grasim Industries, while Yes Bank, Titan Company and Adani Ports were among the major losers.

–IANS

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