Profit booking, negative global cues subdue equity indices

Profit booking along with broadly negative global cues subdued the Indian equity market during the mid-afternoon trade session on Friday.

According to market observers, heavy selling pressure was witnessed in banking, and metal stocks.

At 1 p.m., the wider Nifty 50 of the National Stock Exchange (NSE) traded at 11,443.35 points lower by 27.35 points or 0.24 per cent from its previous close.

Similarly, the benchmark S&P BSE Sensex made loss during the session. It traded at 37,917.36 points lower by 107.01 points or 0.28 per cent from its previous close.

Sector-wise, S&P BSE consumer durable gained 184.15 points and the auto index rose 145.18.

On the other hand, the S&P BSE banking index declined by 160.85 and the metal index dipped by 142.81.

On Thursday -- the last trade session -- foreign fund inflows, along with domestic political developments, lifted the Indian equity indices to their new record intra-day and closing highs.

Consequently, the benchmark Sensex closed at a new record high of 38,024.37 points, higher by 136.81 points or 0.36 per cent. It touched a record intra-day high of 38,076.23 points.

The wider NSE Nifty50 made a new closing high of 11,470.70 points, higher by 20.70 points or 0.18 per cent. It had hit a fresh intra-day record high of 11,495.20 points.

--(IANS)

ravi-rv/in