Profit booking, weak Rupee depress equity markets

Mumbai, May 20 (IANS) Profit booking, coupled with foreign fund outflows and a weak Rupee, depressed the Indian equity markets on Friday.

This led to the key indices provisionally closing the day’s trade in the red, as heavy selling pressure was witnessed in healthcare, capital goods, banking and information technology (IT) stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged lower by 25.60 points or 0.33 percent, at 7,757.80 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 25,428.42 points, provisionally closed at 25,301.90 points (at 3.30 p.m.) — down 97.82 points or 0.39 percent from the previous day’s close at 25,399.72 points.

The Sensex touched a high of 25,506.06 points and a low of 25,251.90 points during the day’s trade.

The BSE market breadth was skewed in favour of the bears with 1,665 declines and 900 advances.

Both the key indices ended on a lower note during the previous trade session on Thursday due to negative global cues, profit booking and a fall in crude oil prices.

The barometer index during the previous trade session plunged by 305 points or 1.19 percent, while the NSE Nifty declined by 87 points or 1.10 percent.

–IANS

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