Negative global cues subdue equity markets (Third Lead)

Mumbai, Aug 26 (IANS) Indian equity markets on Friday were subdued ahead of US Fed Reserve Chair’s speech, coupled with lower crude oil prices.

Consequently, the key Indian indices provisionally closed the day’s trade on a flat note with a negative bias as heavy selling pressure was seen in capital goods, banking and information technology (IT) stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged down 17.25 points, or 0.20 per cent, to 8,574.95 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 27,882.75 points, provisionally closed at 27,782.25 points (at 3.30 p.m.) — down 53.66 points, or 0.19 per cent, from the previous close at 27,835.91 points.

The Sensex touched a high of 27,935.88 points and a low of 27,696.99 points during the intra-day trade.

The BSE market breadth was tilted in favour of the bears — with 1,559 declines and 1,085 advances.

On Thursday, both the key indices had closed in the red as volatility was induced by futures and options (F&O) expiry, coupled with negative global cues.

The barometer index had plunged 224.03 points, or 0.80 per cent, while the NSE Nifty slipped by 58.10 points, or 0.67 per cent.

–IANS

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