Negative global cues, profit booking dent equity markets (Third Lead)

Mumbai, May 18 (IANS) Negative global cues, coupled with profit booking and poor quarterly results, pushed the Indian equity markets down on Wednesday.

This led the key indices to provisionally close the day’s trade flat — marginally in the red, as heavy selling pressure was witnessed in automobile and consumer durables stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged lower by 20.60 points or 0.26 percent, at 7,870.15 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 25,671.48 points, provisionally closed at 25,704.61 points (at 3.30 p.m.) — down 69 points or 0.27 percent from the previous close at 25,773.61 points.

The Sensex touched a high of 25,747 points and a low of 25,503.40 points during the intra-day trade.

The BSE market breadth favoured the bears with 1,317 declines and 1,234 advances.

Both the key indices ended on a higher note during the previous trade session on Tuesday, as positive global indices, along with higher crude oil prices and expectations of better quarterly results lifted prices.

The barometer index on Tuesday gained 120.38 points or 0.47 percent, while the NSE Nifty had risen by 30 points or 0.38 percent.

–IANS

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