Negative global cues dent equity markets (Third Lead)

Mumbai, May 19 (IANS) Negative global cues, coupled with lower crude oil prices and a weak rupee, dragged the Indian equity markets lower on Thursday.

This led the key indices to provisionally close the day’s trade in the red, as heavy selling pressure was witnessed in the capital goods, banking, fast moving consumer goods (FMCG), consumer durables and metal stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) declined by 86.75 points or 1.10 percent, at 7,783.40 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 25,713.84 points, provisionally closed at 25,399.72 points (at 3.30 p.m.), down 304.89 points or 1.19 percent from the previous day’s close at 25,704.61 points.

The Sensex touched a high of 25,714.56 points and a low of 25,351.99 points in the intra-day trade.

The BSE market breadth favoured the bears with 1,632 declines and 917 advances.

Both the key indices ended on a lower note during the previous trade session on Wednesday due to negative global cues, profit booking and poor quarterly results.

The barometer index on Wednesday had fallen by 69 points or 0.27 percent, while the NSE Nifty edged down by 20.60 points or 0.26 percent.

–IANS

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