Indian equity markets slip on negative global cues

Indian equity markets slip on negative global cues 

Mumbai, Aug 22 (IANS) Indian equity markets were suppressed by negative global cues and a weak rupee during the mid-afternoon session on Monday.

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

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged down 37.75 points or 0.44 per cent to 8,629.15 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,088.07 points, provisionally closed at 27,985.54 points (at 3.30 p.m.) — down 91.46 points or 0.33 per cent from the previous close at 28,077 points.

The Sensex touched a high of 28,143.28 points and a low of 27,918.05 points during the intra-day trade.

The BSE market breadth was slightly tilted in favour of the bears — with 1,401 declines and 1,287 advances.

On Friday, the benchmark indices had closed flat — marginally in the red — due to profit booking and negative global cues.

The barometer index had receded by 46.44 points or 0.17 per cent, while the NSE Nifty slipped by 6.35 points or 0.07 per cent.

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