Profit booking dents equity markets

Mumbai, Aug 9 (IANS) Profit booking, along with lower crude oil prices and a weak rupee, dented the Indian equity markets on Tuesday.

The disappointment over the Reserve Bank of India’s (RBI) decision to maintain its key lending rates during the monetary policy review also dampened sentiments.

Conseqently, both the key indices provisionally closed the day’s trade in the red, as heavy selling pressure was witnessed in automobiles, healthcare, and oil and gas stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged down by 33.10 points or 0.38 per cent to 8,678.25 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,289.22 points, provisionally closed at 28,085.16 points (at 3.30 p.m.) — down 97.41 points or 0.35 per cent from the previous close at 28,182.57 points.

The Sensex touched a high of 28,289.96 points and a low of 27,956.77 points during the intra-day trade.

The BSE market breadth was tilted in favour of the bears — with 1,554 declines and 1,194 advances.

On Monday, the key indices had closed in the green due to positive global cues, along with hopes of parliamentary approval for a major economic legislation.

The barometer index had gained by 104.22 points or 0.37 per cent, while the NSE Nifty edged up by 28.20 points or 0.32 per cent.

–IANS

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