Uncertain global cues subdue equity markets

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Mumbai, June 22 (IANS) Uncertain global cues, profit booking and a weak rupee depressed the Indian equity markets on Wednesday.

Consequently, the key indices provisionally closed the day’s trade marginally in the red, as heavy selling pressure was witnessed in automobile, capital goods and FMCG (fast moving consumer goods) stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged down by 16.20 points or 0.20 per cent, at 8,203.70 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 26,791.68 points, provisionally closed at 26,765.65 points (at 3.30 p.m.) — down 47.13 points or 0.18 per cent from the previous close at 26,812.78 points.

The Sensex touched a high of 26,887.29 points and a low of 26,617.45 points during the intra-day trade.

The BSE market breadth was skewed in favour of the bears — with 1,597 declines and 988 advances.

On Tuesday, the key indices ended on a lower note due to profit booking, uncertain global cues and a weak rupee.

The barometer index on Tuesday fell by 54.14 points or 0.20 per cent, while the NSE Nifty slipped by 18.60 points, or 0.23 per cent.

Initially, both the key indices opened on a flat-to-negative note as investors were seen cautious ahead of Britain’s upcoming referendum on whether or not to stay on in the European Union.

The island nation will go in for a referendum on this issue on Thursday.

–IANS

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