Profit booking, weak rupee subdue equity markets

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Mumbai, July 15 (IANS) Key Indian equity markets were on Friday suppressed by profit booking, a weak rupee and lower crude prices.

Consequently, the key indices provisionally closed the day’s trade in the red, as heavy selling pressure was witnessed in IT (information technology) and TECK (media, entertainment and technology) stocks.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 27,966.14 points, provisionally closed at 27,836.50 points (at 3.30 p.m.) — down 105.61 points or 0.38 per cent from the previous close at 27,942.11 points.

It touched a high of 28,048.70 points and a low of 27,735.87 points during the intra-day trade.

The BSE market breadth was tilted in favour of the bears — with 1,671 declines and 1,006 advances.

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The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged down to 8,538.35 points — down 26.65 points or 0.31 per cent.

On Thursday, the benchmark indices closed in the positive territory, supported by positive global cues and a strong rupee.

The barometer index was up 126.93 points or 0.46 per cent, while the Nifty edged up by 45.50 points or 0.0.53 per cent.



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