Business

Selling pressure subdues Indian equity indices

Mumbai, March 7, 2017: Indian equity markets traded on a flat-to-negative note during the early morning trade session on Tuesday, as heavy selling pressure was witnessed in metal, automobile and healthcare stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) inched down by 8.00 points or 0.09 per cent, to 8,955.45 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 29,092.16 points, traded at 29,043.01 points (9.35 a.m.) — was a tad lower by 5.18 points or 0.02 percent from the previous close at 29,048.19 points.

The Sensex touched a high of 29,098.17 points and a low of 29,033.83 points during the intra-day trade so far.

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 Goods and Services Tax (GST) legislation.

Besides, inflows of foreign funds and a strong rupee pushed the indices higher.

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

IANS

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