Indian equities trade lower as investors book profits

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Mumbai, March 21 (IANS) Indian equity markets slipped for the second consecutive trade session on Tuesday as heavy selling pressure was witnessed in healthcare, banking and automobile stocks.

The key indices traded in the red during the mid-afternoon trade session as investors booked profits.

At 12.45 p.m., the wider 51-scrip Nifty of the National Stock Exchange (NSE) broke the crucial 9,100-level and traded at 9,099.80 points — down 27.05 points or 0.30 per cent from its previous close.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 29,525.88 points, traded at 29,411.18 points (at 12.45 p.m.) — down 107.56 points or 0.36 per cent from the previous close at 29,518.74 points.

The Sensex has so far touched a high of 29,585.05 points and a low of 29,398.82 points during the intra-day trade.

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The BSE market breadth was skewed in favour of the bears — with 1,627 declines and 870 advances.

On the sector-specific movement, Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS: “IT, banking, pharma, auto, oil-gas and textile sector stocks traded with bearish sentiments due to profit booking at higher levels. Aviation, FMCG and power sector stocks also traded on a lower note.”

“However, cement sector stocks traded with firm sentiments due to buying support.”

On Monday, the benchmark indices closed lower on the back of broadly negative global cues and sector-specific selling pressure.

The NSE Nifty fell by 33.20 points or 0.36 per cent to close at 9,126.85 points, while the Sensex closed at 29,518.74 points — down 130.25 points or 0.44 per cent.

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