Negative global cues, profit booking subdue equity markets

Mumbai, July 5 (IANS) Negative Asian markets, along with profit booking, subdued the Indian equity markets on Tuesday.

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

Heavy selling pressure was witnessed in automobile, information technology (IT) and oil and gas stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) slipped by 15.50 points or 0.19 per cent, at 8,355.20 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 27,340.72 points, traded at 27,236 points (at 10.15 a.m.) — down 42.76 points or 0.16 per cent from the previous close at 27,278.76 points.

The Sensex has so far touched a high of 27,348.66 points and a low of 27,222.60 points during the intra-day trade.

In contrast, the BSE market breadth was skewed in favour of the bulls — with 1,118 advances and 890 declines.

Both the key Indian indices had ended on a higher note during the previous trade session on Monday to reach their new 2016 closing high levels.

The barometer index had edged up 133.85 points or 0.49 per cent to 27,278.76 points, while the NSE Nifty gained by 42.35 points or 0.51 per cent to 8,370.70 points.

–IANS

rv/ksk

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