Equities slip on negative global cues ahead of derivatives expiry

Key Indian equity indices traded on a lower note during the mid-afternoon session on Wednesday following negative global peers, along with heavy selling pressure in metals, banking and healthcare stocks.

According to market observers, investors traded on a cautious note ahead of March derivatives expiry.

Around 1.15 p.m., the Nifty50 of the National Stock Exchange (NSE) fell by 52.90 points or 0.52 per cent to trade at 10,131.25 points.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 33,098.09 points, traded at 33,004.74 points -- down 169.65 points or 0.51 per cent from the previous session's close.

The Sensex has so far touched a high of 33,104.11 points and a low of 32,946.04 during the intra-day trade.

The BSE market breadth was bearish with 1,621 declines and 822 advances.

"Sensex and Nifty50 declined in early morning trade following losses in global equities. US stocks fell sharply on the back of losses in technology names," said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.

On Tuesday, the indices gained for the second consecutive trade session as positive global cues, coupled with the Central government's plan to reduce borrowing, uplifted investors' sentiments.

The NSE Nifty50 edged higher by 53.50 points or 0.53 per cent to close at 10,184.15 points, while the BSE Sensex closed at 33,174.39 points -- up 107.98 points or 0.33 per cent.

--IANS

ppg/mr