Indian equity markets trade flat on mixed global cues

Mumbai, Aug 29 (IANS) Indian equity markets traded flat during the mid-afternoon session on Monday prompted by mixed global cues and lower crude oil prices.

Heavy selling pressure was witnessed in information technology (IT), healthcare and banking stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) inched down 4.50 points, or 0.05 per cent to 8,568.05 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 27,827.26 points, traded at 27,759.58 points (at 1.30 p.m.) — down 22.67 points, or 0.08 per cent from the previous close at 27,782.25 points.

The Sensex has so far touched a high of 27,827.26 points and a low of 27,698.71 points during the intra-day trade.

The BSE market breadth was tilted in favour of the bears — with 1,404 declines and 1,071 advances.

On Friday, both the key Indian indices had closed in the red, due to caution ahead of the US Fed Reserve Chair’s speech and lower crude oil prices.

The barometer index had slipped by 53.66 points, or 0.19 per cent, while the NSE Nifty edged down 19.65 points, or 0.23 per cent.

Initially on Monday, the benchmark indices opened on a flat note prompted by mixed Asian and US markets.

Investors also remain cautious ahead of key domestic macro-economic data such as gross domestic product (GDP) and eight core industrial output data to be announced on Aug 31.

Besides, lower crude oil prices also added to the downward trajectory.

–IANS

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