Equity indices close in red as investors book profits

Breaking a three-day streak of closing at record highs, the two key Indian equity indices on Tuesday provisionally closed in the negative zone.

According to market observers, the key indices retreated from their record high levels as investors booked profits in almost all the sectors, except the IT and Teck (technology, media and entertainment) indices which closed with robust gains.

The wider Nifty50 of the National Stock Exchange (NSE) fell by 41.10 points or 0.38 per cent to provisionally close (at 3.30 p.m.) at 10,700.45 points.

On the BSE, the barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at a fresh high of 34,877.71 points, closed at 34,771.05 points -- down 72.46 points or 0.21 per cent -- from its previous session's close.

The BSE market breadth was bearish as 2,228 stocks declined as compared to 748 advances.

On Monday, easing inflation, coupled with an optimism surrounding quarterly corporate earnings, pushed the key indices higher, with the NSE Nifty50 index crossing the 10,700-mark for the first time.

The Nifty50 rose by 60.30 points or 0.56 per cent to close at a fresh level of 10,741.55 points, while the Sensex closed at a record high of 34,843.51 points -- up 251.12 points or 0.73 per cent.

--IANS

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