Global cues, selling pressure subdue equity indices

Key Indian equity indices traded in the red during the mid-afternoon session on Wednesday, with the Sensex slipping below the psychologically important 36,000-mark and the Nifty50 below the 11,000-level.

According to market observers, negative global cues, coupled with heavy selling pressure in consumer durables, capital goods and healthcare stocks, pulled the key Indian equity indices lower for the second consecutive session.

Besides, investors turned cautious and booked profits ahead of the presentation of the Union Budget 2018-19 on Thursday.

At 2 p.m., the wider Nifty50 of the National Stock Exchange (NSE) traded lower by 58.70 points or 0.53 per cent at 10,990.95 points.

On the BSE, the barometer 30-scrip Sensitive Index (Sensex), which opened at 35,951.64 points, traded at 35,857.85 points -- down 175.88 points or 0.49 per cent from its previous close.

The Sensex has so far touched a high of 36,047.67 points and a low of 35,834.04 points during the intra-day trade.

The BSE market breadth was bearish as 1,911 stocks declined against 799 advances.

On Tuesday, the equity indices closed in the red on profit booking and weak global cues.

The Nifty50 fell by 80.75 points or 0.73 per cent to close at 11,049.65 points, while the Sensex closed at 36,033.73 points -- down 249.52 points or 0.69 per cent.

--IANS

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