Key Indian equity indices drop on weak global cues

Mumbai, May 2 (IANS) Key Indian stock market indices were trading lower in the afternoon session on Monday following weak global cues.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was trading 49.25 points or 0.63 percent lower at 7,800.55 points.

The Sensex of the BSE, which opened at 25,565.44 points, was trading at 25,433.77 points (at 1.03 p.m.) in the afternoon session, down 172.85 points or 0.68 percent from the previous day’s close at 25,606.62 points.

The Sensex touched a high of 25,565.44 points and a low of 25,341.14 points in the trade so far.

Heavy selling pressure was seen in the banking, telecom and technology, media and entertainment (TECK) sectors, while good buying was observed in consumer durables sector.

The S&P BSE bankex plunged by 1 percent, telecom index dropped by 0.69 percent and TECK index fell by 0.58 percent. However, consumer durables index went up by 1.41 percent.



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