Caution ahead of quarterly results dents equity markets

Caution ahead of the quarterly results season, along with relentless selling by foreign funds, caused a slump in the Indian equity markets on Thursday.

Consequently, key indices of the Indian equity markets provisionally closed the day's trade in the red.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) declined by 71 points or 0.93 percent, to 7,543.40 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 24,998.79 points, provisionally closed at 24,685.42 points (at 3.30 p.m.) -- down 215.21 points or 0.86 percent from the previous close at 24,900.63 points.

The Sensex touched a high of 25,013.13 points and a low of 24,647.48 points during the intra-day trade.

In contrast, the BSE market breadth was tilted in favour of bears -- with 1,455 declines and 1,108 advances.

The barometer index had closed flat on Wednesday. It ended up a mere 17.04 points or 0.07 percent, while the Nifty inched up by just 11.15 points or 0.15 percent.