Profit booking subdues Indian equity markets

Profit booking subdues Indian equity markets 

Mumbai, July 29 (IANS) Profit booking and negative global cues suppressed the Indian equity markets on Friday.

Consequently, both the key indices provisionally closed the day’s trade in the red, as heavy selling pressure was witnessed in banking, consumer durables, and capital goods stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged down 22.05 points or 0.25 per cent to 8,644.25 points.

The 30-scrip BSE Sensex, which opened at 28,232.87 points, provisionally closed at 28,051.86 points (at 3.30 p.m.) — down 156.76 points or 0.56 per cent from the previous close at 28,208.62 points.

The Sensex touched a high of 28,233.47 points and a low of 28,037.87 points during the intra-day trade.

The BSE market breadth was tilted in favour of the bears — with 1,452 declines and 1,226 advances.

On Thursday, the benchmark indices closed higher prompted by expectations of the GST (Goods and Services Tax) bill clearing parliament, short covering and fresh influx of foreign funds.

The barometer index had gained 184.29 points or 0.66 per cent, while the NSE Nifty edged up 50.50 points or 0.59 per cent.

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