Negative global cues drag equity markets lower

Mumbai, May 24 (IANS) Negative global cues, along with a weak rupee, dragged the Indian equity markets lower on Tuesday.

Consequently, the key indices of the Indian equity markets traded flat — marginally in the red, during the early morning session.

Heavy selling pressure was witnessed in capital goods, consumer durables and information technology (IT) stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) slipped by 2.70 points or 0.03 percent, at 7,728.35 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 25,256.97 points, traded at 25,219.88 points (at 9.35 a.m.) — down 10.48 points or 0.04 percent from the previous close at 25,230.36 points.

The Sensex has so far touched a high of 25,266.11 points and a low of 25,181.47 points during the intra-day trade.

In contrast, the BSE market breadth was tilted in favour of the bears — with 702 declines and 648 advances.

Both the key Indian indices had ended on a lower note during the previous trade session on Monday.

The barometer index had fallen by 71.54 points or 0.28 percent, while the NSE Nifty had slipped by 18.65 points or 0.24 percent.

–IANS

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