Indian equities subdued on negative global cues

Negative global cues and heavy selling pressure witnessed in metal, automobile, and healthcare stocks subdued the Indian equity markets during the mid-afternoon trade session on Monday.

The global markets were spooked as US President Donald Trump's failure to overturn his predecessorBarack Obama's healthcare reforms and increased concerns over his ability to implement economic policies.

Following this, the US futures markets and the dollar, as well as the Asian markets, fell to lower levels. The European markets, too, opened broadly negative.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) provisionally closed below the 9,100-mark. It fell by 62.80 points or 0.69 per cent to 9,045.20 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 29,395.68 points, provisionally closed at 29,237.15 points (at 3.30 p.m.) -- down 184.25 points or 0.63 per cent from the previous close at 29,421.40 points.

The Sensex touched a high of 29,420.70 points and a low of 29,163.54 points during the intra-day trade.

The BSE market breadth was bearish -- with 1,659 declines and 1,107 advances.

Last week, the Indian equity markets closed on a higher note on the back of a strong rupee and healthy buying in banking stocks.

--IANS

ppg/vt