Equity markets down on bearish global cues (Fourth Lead)

Mumbai, Sep 12 (IANS) The increased possibility of a US rate hike, coupled with profit-booking and lower crude oil prices, dragged the Indian equity markets down on Monday.

Both the key equity indices provisionally closed with losses of more than 1.5 per cent each, as heavy selling pressure was witnessed in automobile, banking and capital goods stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) dipped by 151.10 points or 1.70 per cent to 8,715.60 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,481.09 points, provisionally closed at 28,353.54 points (at 3.30 p.m.) — down 443.71 points or 1.54 per cent from its previous close at 28,797.25 points.

The Sensex touched a high of 28,481.11 points and a low of 28,251.31 points during the intra-day trade.

The BSE market breadth was skewed in favour of the bears — with 2,018 declines and 699 advances.

On Friday, both the key Indian indices were dragged lower by profit booking and negative global markets.

The barometer index had edged down 248.03 points or 0.85 per cent, while the NSE Nifty fell by 85.80 points or 0.96 per cent.

–IANS

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