Business

Global cues, selling pressure subdue Indian equities

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Mumbai, March 7: Broadly negative global cues and heavy selling pressure witnessed in metal, automobile and healthcare stocks subdued the Indian equity markets on Tuesday.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) slipped by 16.55 points or 0.18 per cent, to 8,946.90 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 29,092.16 points, provisionally closed at 28,999.56 points (at 3.30 p.m.) — down 48.63 points or 0.17 per cent from the previous close at 29,048.19 points.

The Sensex touched a high of 29,098.17 points and a low of 28,957.68 points during the intra-day trade.

The BSE market breadth was tilted in favour of the bears — with 1,649 declines and 1,188 advances.

On Monday, the benchmark indices surged to their new closing-high levels in the last 24 months as investors’ sentiments were buoyed after a major breakthrough was achieved on the modalities of implementing the Goods and Services Tax (GST).

The NSE Nifty gained 65.90 points, or 0.74 per cent, to close at 8,963.45 points, and the BSE Sensex was up 215.74 points or 0.75 per cent at 29,048.19 points.

IANS

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