Profit booking dents equity markets

Mumbai, May 18 (IANS) Profit booking, coupled with negative Asian indices and disappointing quarterly results, pushed the Indian equity markets down on Wednesday.

This led the key indices to trade in the red during the mid-afternoon trade session, as heavy selling pressure was witnessed in automobile, banking and information technology (IT) stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged lower by 36.35 points or 0.46 percent, at 7,854.40 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 25,671.48 points, traded at 25,604.83 points (at 2.00 p.m.) — down 168.78 points or 0.65 percent from the previous close at 25,773.61 points.

The Sensex has so far touched a high of 25,697.58 points and a low of 25,503.40 points during the intra-day trade.

The BSE market breadth favoured the bears with 1,287 declines and 1,122 advances.

Both the key indices ended on a higher note during the previous trade session on Tuesday, as positive global indices, along with higher crude oil prices and expectations of better quarterly results lifted prices.

The barometer index on Tuesday gained 120.38 points or 0.47 percent, while the NSE Nifty had risen by 30 points or 0.38 percent.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of or any employee thereof. is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here