Profit booking pulls Indian equities lower

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Mumbai, Dec 21, 2016: Profit booking, coupled with a weak rupee and outflow of foreign funds, pulled the Indian equity markets lower on Wednesday.

The key indices provisionally closed flat — marginally in the red — as heavy selling pressure was witnessed in IT, FMCG and capital goods stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) inched down by 21.10 points or 0.26 per cent to 8,061.30 points.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 26,368.88 points, provisionally closed at 26,242.38 points (at 3.30 p.m.) — down 65.60 points or 0.25 per cent from the previous close at 26,307.98 points.

The Sensex touched a high of 26,396 points and a low of 26,213.51 points during the intra-day trade.

The BSE market breadth was tilted in favour of the bears — with 1,387 declines and 1,201 advances.

On Tuesday, the benchmark indices had crashed to their lowest level for the last two weeks on the back of weak global cues.

The barometer index had closed lower by 66.72 points or 0.25 per cent, while the NSE Nifty slipped by 21.95 points or 0.27 per cent.


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