Weak global cues subdue equity indices

The key domestic equity indices provisionally ended on a flat-to-positive note on Tuesday, as weak global cues eroded investors' risk-taking appetite.

According to market analysts, heavy selling pressure in consumer durables and capital goods stocks trimmed the overall gains made earlier in the day's trade.

At 3.30 p.m., the broader Nifty50 of the National Stock Exchange (NSE) provisionally closed at 10,717.80 points -- up 2.30 points or 0.02 per cent -- from its previous close.

The barometer 30-scrip Sensitive Index (Sensex), which opened at 35,349.85 points, closed at 35,216.32 points (3.30 p.m.) -- up 8.18 points or 0.02 per cent -- from its previous session's close.

The Sensex touched a high of 35,388.87 points and a low of 35,136.01 during the intra-day trade.

The BSE market breadth was bearish with 1,507 declines and 1,176 advances.

The major gainers on the BSE were ICICI Bank, State Bank of India, Axis Bank, Power Grid and Bharti Airtel while Mahindra and Mahindra, Larsen and Toubro, IndusInd Bank, Infosys and Yes Bank were the major losers.

On the NSE, the top gainers were ICICI Bank, Hindustan Petroleum and Eicher Motors. The major losers were Mahindra and Mahindra, Larsen and Toubro and Infosys.

On May 7 -- the previous trade session -- both the key indices closed in the green on the back of positive global cues, along with value buying and expectations of firm quarterly earnings.

Consequently, the NSE Nifty50 had closed at 10,715.50 points, up by 97.25 points or 0.92 per cent from the previous close.

Similarly, the S&P BSE Sensex had made gains. It closed at 35,208.14 points -- up 292.76 points or 0.84 per cent -- from its previous session's close.

--IANS

rrb-rv/vm