Indian equities slip as global cues spook investors

The Indian equity markets on Thursday provisionally closed on a flat-to-negative note as weak global cues and heavy selling pressure in oil and gas, IT and consumer durables stocks subdued investors' sentiments.

Market observers pointed out that investors were cautious ahead of the general election in Britain and European Central Bank's policy review.

At 3.30 p.m., the Nifty of the National Stock Exchange (NSE) inched down by 16.65 points or 0.17 per cent to provisionally close at 9,647.25 points.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,316.91 points, closed at 31,213.36 points -- down 57.92 points or 0.19 per cent from its previous close at 31,271.28 points.

It touched a high of 31,354.51 points and a low of 31,193.77 points during intra-day trade.

However, the BSE market breadth was slightly bullish -- with 1,351 declines and 1,330 advances.

Dr. Reddy's Lab, Sun Pharma and HDFC were the top gainers on the BSE, while Gail, Tata Consultancy Services (TCS) and Hero MotoCorp were the top losers.

--IANS

ppg/vt