Despite hopes of healthy economic expansion data, the slide in Asian bourses and a weaker rupee dented the Indian equity markets during the late-afternoon trade session on Monday.
Bearish sentiments due to negative Asian cues dampened trade at the barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which fell by 59 points or 0.23 percent.
Weak sentiments were also witnessed at the wider 50-scrip Nifty of the National Stock Exchange (NSE). The CNX Nifty of the NSE declined by 18.25 points or 0.23 percent at 7,983.70 points.
The S&P BSE Sensex, which opened at 26,469.42 points, was trading at 26,332.99 points (3.00 p.m.) -- down 59.39 points or 0.23 percent from the previous day's close at 26,392.38 points.
The S&P BSE Sensex touched a high of 26,504.73 points and a low of 26,215.16 points in the intra-day trade so far.
Analysts pointed out that the negative cues eminating out of Asian markets, especially due to the slide in the Chinese markets, made investors reluctant to chase higher prices.
"The markets are lower due to the fall in Asian markets. Despite attractive valuations, bargain hunting is being resisted due to the Asian markets factor and its consequence -- the weakening in rupee value," Anand James, co-head, technical research, Geojit BNP Paribas, told IANS.
"However, the markets might pick up on the back of healthy GDP data due to be released later today. A healthy data coupled with government's attempts to restart the consensus-building efforts to pass the GST bill (goods and services tax) have the potential to support the Indian equities."
Sector-wise, automobile, capital goods and consumer durables came under heavy selling pressure.
The S&P BSE automobile index plunged by 125.75 points, the capital goods index receded by 109.21 points and consumer durables index declined by 56.37 points.
On the other hand, healthcare index augmented by 323.18 points, metal index gained by 72.09 points and oil and gas sector was higher by 62.73 points.
