Equity indices trade flat-to-negative on weak global cues

Amid volatility, the two key Indian equity indices traded on a flat note with marginal losses during the mid-afternoon session on Tuesday following broadly negative Asian peers.

According to market observers, heavy selling pressure was witnessed in consumer durables, IT and Teck (technology, media and entertainment) stocks. However, healthy buying in banking, auto and healthcare stocks limited the slide of the key indices.

At 12.45 p.m., the wider Nifty50 of the National Stock Exchange (NSE) traded lower by 13.70 points or 0.13 per cent at 10,198.10 points.

The barometer 30-scrip Sensitive index (Sensex) of the BSE, which opened at 33,197.42 points, traded at 33,226.46 points -- down 28.90 points or 0.09 per cent from its previous session's close.

The Sensex has so far touched a high of 33,318.34 points and a low of 33,153.83 points during the intra-day trade.

On the other hand, the BSE market breadth was bullish with 1,434 advances and 951 declines.

"Asian markets fell after US stocks closed sharply lower hit by uncertainty surrounding trade policy and weakness in shares of technology and internet companies," said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.

"Investors will now look forward to Reserve Bank of India's (RBI) first bi-monthly policy decision of FY19 to be held on Thursday," he added.

On Monday, broadly positive global peers, along with robust automobile sales data, lifted the key indices.

The NSE Nifty50 rose by 98.10 points, or 0.97 per cent, to close at 10,211.80 points, while the Sensex of the BSE closed at 33,255.36 points -- up 286.68 points, or 0.87 per cent.

--IANS

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