Weak global cues pull equity indices lower

Weak Asian indices and a rate hike by the US Federal Reserve depressed the key Indian equity indices on Thursday afternoon.

According to market analysts, investors also booked profits after the indices rose in the previous three trading sessions.

Heavy selling presure was witnessed in the IT, oil and gas and banking stocks, they said.

At 12.51 p.m., the broader Nifty50 of the National Stock Exchange (NSE) traded at 10,789.20 points -- down by 67.50 points or 0.62 per cent -- from its previous close of 10,856.70 points.

The barometer 30-scrip Sensitive Index (Sensex), which had opened at 35,743.10 points, traded at 35,538.95 points (12.53 p.m.) -- lower by 200.21 points or 0.56 per cent -- from its previous session's close of 35,739.16 points.

The Sensex has so far touched a high of 35,749.88 points and a low of 35,488.55 points during the intra-day trade. The BSE market breadth was bearish with 1,447 declines against 952 advances so far.

The top gainers on the Sensex were Sun Pharma, Dr Reddy's Lab, Yes Bank, HDFC Bank and IndusInd Bank whereas State Bank of India (SBI), Adani Ports, Coal India, ONGC and ICICI Bank were the major losers.

On the NSE, Sun Pharma, HCL Technologies and Lupin were the highest gainers while Tech Mahindra, Adani Ports and SBI lost the most.

--IANS

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