Equity indices trade in red, Sensex scales new high intra-day

Broadly negative Asian markets, coupled with heavy selling pressure in consumer durables, auto and capital goods stocks, pulled the key Indian equity indices lower during the mid-afternoon trade session on Wednesday.

Around 1.10 p.m., the wider Nifty50 of the National Stock Exchange (NSE) traded lower by 25.80 points or 0.24 per cent at 10,611.20 points.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at a record high level of 34,538.78 points, touched a fresh high of 34,565.63 points on an intra-day basis.

At 1.10 p.m., the Sensex traded at 34,374.57 points -- down 68.62 points or 0.20 per cent -- from its previous session's close.

The BSE market breadth was bearish as 1,618 stocks declined as compared to 1,158 advances.

"Indian indices opened in the green. However, post opening session, markets traded flat cooling-off from life time highs," Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

"Stocks of Oil and Natural Gas Corp rose after a surge in international crude oil prices," he added.

On Tuesday, the key indices closed at fresh highs with subtle gains on the back of positive global cues and optimism over the upcoming quarterly earnings result season, as well the Union Budget.

The Nifty50 rose by 13.40 points or 0.13 per cent to close at a new high of 10,637 points, while the Sensex closed at 34,443.19 points -- up 90.40 points or 0.26 per cent.

--IANS

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