Profit booking subdues equity markets

Mumbai, Aug 1 (IANS) Profit booking, along with lower crude oil prices and apprehensions over two upcoming global events, subdued the Indian equity markets on Monday.

The key indices provisionally closed the day’s trade on a flat note, as heavy selling pressure was witnessed in capital goods and banking stocks. The equity markets had receded after they touched new intra-day highs in almost a year.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) inched up by eight points or 0.09 per cent to 8,635.40 points.

On the other hand, the barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,083.08 points, provisionally closed at 28,003.12 points (at 3.30 p.m.) — down 48.74 points or 0.17 per cent from the previous close at 28,051.86 points.

The Sensex touched a high of 28,284.85 points and a low of 27,873.53 points during the intra-day trade.

The BSE market breadth was tilted in favour of the bears — with 1,564 declines and 1,180 advances.

On Friday, the benchmark indices closed the day’s trade in the negative territory due to profit booking, negative global cues and foreign fund outflows.

The barometer index had plunged 156.76 points or 0.56 per cent, while the Nifty slipped by 27.80 points or 0.32 per cent.

–IANS

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