Equity indices close lower after scaling new highs intra-day

Negative European indices, coupled with heavy selling pressure in banking and auto stocks, pulled the key Indian equity indices lower on Wednesday.

The equity indices recorded fresh intra-day high levels before giving up gains to provisionally close in the red.

On an intra-day basis, the barometer 30-scrip Sensitive Index (Sensex) of the BSE touched a record high level of 33,956.31 points, surpassing its previous high of 33,865.95 points recorded on November 7.

The BSE Sensex provisionally closed (at 3.30 p.m.) at 33,777.38 points -- down 59.36 points or 0.18 per cent -- from its previous close.

However, the BSE market breadth was bullish as 1,585 stocks advanced as compared to 1,122 declines.

The wider Nifty50 of the National Stock Exchange (NSE) provisionally closed lower by 19 points or 0.18 per cent at 10,444.20 points.

During the day's trade, the NSE Nifty50 edged higher to a new intra-day level of 10,494.45 points, crossing its previous intra-day high of 10,490.45 points scaled on November 6.

Dr. Reddy's Lab, Bharti Airtel, Mahindra and Mahindra, Tata Steel and HDFC were the top losers on the BSE.

On Tuesday, the benchmark equity indices closed at new highs as sentiments were given a boost by soaring automobile stocks, along with a strengthened rupee.

On a closing basis, the BSE Sensex scaled a new high of 33,836.74 points -- up 235.06 points or 0.70 per cent from its previous close, while the NSE Nifty50 edged higher by 74.45 points or 0.72 per cent to a new closing high 10,463.20 points.

--IANS

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