Caution ahead of macro-data release suppresses equities

Caution ahead of major domestic macro-data release, coupled with weak global cues and heavy selling pressure in banking, capital goods and consumer durables stocks, pulled the Indian equity markets lower on Monday.

The key equity indices provisionally closed with losses of more than half-per cent each, as investors remained cautious ahead of the release of Index of Industrial Production (IIP) and Consumer Price Index (CPI) data later in the evening.

At 3.30 p.m., the wider Nifty of the National Stock Exchange (NSE) fell by 51.85 points or 0.54 per cent to provisionally close at 9,616.40 points.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,225.43 points, closed at 31,095.70 points -- down 166.36 points or 0.53 per cent from its previous close at 31,262.06 points.

It touched a high of 31,225.43 points and a low of 31,044.28 points during intra-day trade.

The BSE market breadth was bearish -- with 1,667 declines and 1,017 declines.

--IANS

ppg/vt