Sensex, Nifty at day's low; cede initial gains

The key equity indices traded at their respective day's low during the afternoon session of trade on Thursday after ceding initial gains owing to profit booking. S&P BSE Sensex lost over 550 points in the last two days.

Although the indices traded in the red, the overall market breadth was positive with 1,245 advances and 1,159 declines.

Also, a decline in crude oil prices and a strengthening rupee capped further losses. The domestic currency rose to Rs 71.13 from its previous close of 71.45 while the benchmark Brent Crude traded $63.37 a barrel.

Heavy selling pressure was witnessed in the metal and power stocks which fell over 1 per cent whereas the index pivotals -- finance and banking -- were 0.27 per cent and 0.66 per cent lower from its previous close.

At 1.21 p.m., the S&P BSE Sensex traded 48.58 points lower at 35,251.03 from its previous close of 35,199.80.

The benchmark index touched a high of 35,364.50 and a low of 35,162.23 while NSE's Nifty was trading 0.25 points lower at 10,573.85.

--IANS

ravi/mr