Negative global cues subdue equity markets

Negative global cues subdue equity markets 

Mumbai, Aug 17 (IANS) Negative global cues, along with profit booking, subdued the Indian equity markets on Wednesday.

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

The wider 51-scrip Nifty of the National Stock Exchange (NSE) slipped by 18.50 points or 0.21 per cent to 8,624.05 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,061.79 points, provisionally closed at 28,005.37 points (at 3.30 p.m.) — down 59.24 points or 0.21 per cent from the previous close at 28,064.61 points.

The Sensex touched a high of 28,174.30 points and a low of 27,960.14 points during the intra-day trade.

In contrast, the BSE market breadth was tilted in favour of the bulls — with 1,456 advances and 1,256 declines.

On Tuesday, the benchmark indices had closed in the red on the back of negative global cues, profit booking and lower global crude oil prices.

The barometer index had closed lower by 87.79 points or 0.31 per cent, while the NSE Nifty edged down by 29.60 points or 0.34 per cent.

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