Selling pressure pulls Indian equities lower

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Mumbai, March 8 (IANS) Indian equity markets provisionally closed in the negative territory on Wednesday as a marginally weak rupee and heavy selling pressure witnessed in metal, oil and gas, and automobile stocks subdued investors’ sentiments.

According to market observers, investors remained cautious ahead of the assembly elections results and the outcome of the European Central Bank (ECB) monetary policy review.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) slipped by 22.60 points or 0.25 per cent, to 8,924.30 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 29,021.06 points, provisionally closed at 28,902.79 points (at 3.30 p.m.) — down 96.77 points or 0.33 per cent from the previous close at 28,999.56 points.

The Sensex touched a high of 29,022.32 points and a low of 28,815.48 points during the intra-day trade.

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The BSE market breadth was tilted in favour of the bears — with 1,754 declines and 1,069 advances.

On Tuesday, the NSE Nifty fell by 16.55 points or 0.18 per cent, to close at 8,946.90 points, and the BSE Sensex was down 48.63 points or 0.17 per cent at 28,999.56 points.



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