Geopolitical tensions, oil prices keep Indian equities subdued

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Mumbai, May 10 (IANS) The key Indian equity indices traded on a flat-to-negative note on Thursday afternoon due to weak global cues including high crude oil prices and geopolitical tensions after the US backed out of the 2015 Iran nuclear deal.

According to market analysts, heavy selling pressure was witnessed in metal, healthcare and consumer durable stocks.

However, gains in the major Asian equity markets somewhat supported the Indian indices.

At 1.09 p.m., the broader Nifty50 of the National Stock Exchange (NSE) traded at 10,716.40 points — down 25.30 points or 0.24 per cent — from its previous close of 10,741.70 points.

The barometer 30-scrip Sensitive Index (Sensex) on the BSE, which opened at 35,353.96 points, traded at 35,264.50 points (1.09 p.m.) — down 54.85 points or 0.16 per cent — from its previous session’s close of 35,319.35 points.

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The Sensex has so far touched a high of 35,500.76 points and a low of 35,249.36 points during the intra-day trade.

The BSE market breadth was bearish with 1,714 declines and 763 advances so far.

So far, the major gainers on the BSE were ONGC, Tata Motors (DVR), Coal India, IndusInd Bank and Bharti Airtel while Dr Reddy’s Lab, Power Grid, Tata Steel, Tata Motors and Sun Pharma were the major losers.

On the NSE, the top gainers were ONGC, Coal India and Zee Entertainment. The major losers were Dr Reddy’s Lab, Indiabulls Housing Finance and Power Grid.

–IANS

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