Global events' risks suppress Indian equities

Risks of upcoming global economic events, coupled with negative global indices, suppresed the Indian equities markets on Wednesday.

Domestic investors awaited the decision of the US FOMC (Federal Open Market Committee) on whether or not to raise key interest rates during its monetary policy review later in the evening.

Besides, key domestic macro-economic inflation data points which showed a decceleration failed to buoy investors' sentiments.

The two benchmark indices provisionally closed in the red, as heavy selling pressure was witnessed in metal, capital goods and banking stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged down by 39.35 points or 0.48 per cent to 8,182.45 points.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 26,707.91 points, provisionally closed at 26,602.84 points (at 3.30 p.m.) -- down 94.98 points or 0.36 per cent from the previous close at 26,697.82 points.

The Sensex touched a high of 26,736.34 points and a low of 26,547.05 points during the intra-day trade.

The BSE market breadth was tilted in favour of the bears -- with 1,729 declines and 909 advances.

On Tuesday, the equity markets were lifted by bargain hunting, along with positive Asian and European indices.

The barometer index was up 182.58 points or 0.69 per cent, while the NSE Nifty edged up by 51 points or 0.62 per cent.

--IANS

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