Equity markets plunge on negative global cues

Indian equity markets on Monday plunged on the back of negative global cues and caution ahead of F&O (futures and options) expiry.

Both the key indices provisionally closed the day's trade with losses of more than one per cent each, as heavy selling pressure was witnessed in stocks of automobile, banking and capital goods companies.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) slipped by 108.50 points or 1.23 per cent to 8,723.05 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,630.92 points, provisionally closed at 28,294.28 points (at 3.30 p.m.) -- down 373.94 points or 1.30 per cent from the previous close at 28,668.22 points.

The Sensex touched a high of 28,630.92 points and a low of 28,272.03 points during intra-day trade.

The BSE market breadth was tilted in favour of the bears -- with 1,644 declines and 1,052 advances.

On Friday last week, both the key indices were suppressed by profit-booking, along with negative global cues and an outflow of foreign funds.

The barometer index had plunged by 104.91 points or 0.36 per cent, while the NSE Nifty slipped by 35.90 points or 0.40 per cent.

--IANS

ppg-rv/sac