Negative global cues, selling pressure drag equity indices lower

Negative global cues, coupled with heavy selling in index heavyweights like Adani Ports, ONGC, Coal India, HDFC and Larsen and Toubro (L&T) among others, subdued key Indian equity indices on Monday.

According to market observers, domestic macro-industrial output data point released on Friday eroded investors' risk taking appetite.

The wider Nifty50 of the National Stock Exchange (NSE) fell by 96.80 points, or 0.94 per cent, to provisionally close (at 3.30 p.m.) at 10,224.95 points.

The 30-scrip S&P BSE Sensex, which opened at 33,397.41 points, closed at 33,033.56 points -- down 281 points or 0.84 per cent -- from Thursday's close.

The Sensex touched a high of 33,417.30 points and a low of 32,999.98 points during intra-day trade.

The BSE market breadth was bearish -- 1,629 declines and 1,082 advances.

On Friday, the benchmark indices closed in the green on the back of last-hour buying though they traded on a volatile note for most of the day on the back of negative global cues and outflow of foreign funds.

The NSE Nifty50 rose by 12.80 points, or 0.12 per cent, to close at 10,321.75 points, while the BSE Sensex closed at 33,314.56 points -- up 63.63 points or 0.19 per cent.

--IANS

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