Global cues dent equities; energy stocks fall (Ld)

The Indian equity market traded on a negative note during Wednesday’s post-noon trade session as mixed global cues ahead of the US Fed meet subdued investors’ sentiments.

The two key indices opened on a flattish note and since then have traded in the negative zone.

Globally, the US markets had closed Tuesday’s trade on a slightly lower note.

Subsequently, Asian markets on Wednesday showed weakness as investors await the results of the US Fred’s monetary policy later in the week.

Around 1.20 p.m., the 30-scrip S&P BSE Sensitive Index (Sensex) traded at 50,220.24 points down by 143.72 points or 0.29 per cent from its previous close.

Similarly, the broader 50-scrip Nifty at the National Stock Exchange (NSE) traded flat.

The Nifty traded at 14,863.30 points, lower by 47.15 points or 0.32 per cent its previous close of 14,910.45 points.

“Only Tech stocks have shown some strength in the market other than that all major indices are trading in the red zone,” said Gaurav Garg of CapitalVia Global Research.

“ITC and INFY are the top gainers in the market while BPCL and NTPC are the top losers.”