Negative global cues, profit booking subdue equity markets

Mumbai, Aug 16 (IANS) Negative global cues, along with profit booking, depressed the Indian equity markets on Tuesday.

Consequently, both the key equity indices provisionally closed in the red, as heavy selling pressure was witnessed in IT (information technology) and automobile stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) slipped by 29.60 points or 0.34 per cent to 8,642.55 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,190.04 points, provisionally closed at 28,064.61 points (at 3.30 p.m.) — down 87.79 points or 0.31 per cent from the previous close at 28,152.40 points.

The Sensex touched a high of 28,199.10 points and a low of 27,942.65 points during the intra-day trade.

The BSE market breadth was tilted in favour of the bears — with 1,615 declines and 1,106 advances.

On Friday, the benchmark indices had closed with substantial gains on the back of positive global cues, coupled with higher crude oil prices and healthy inflow of foreign funds.

The barometer index had closed higher by 292.80 points or 1.05 per cent, while the NSE Nifty edged up by 80 points or 0.93 per cent.



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