Equities drop ahead of Economic Survey 2017-18

Mumbai, Jan 31 (IANS) Caution ahead of the Economic Survey 2017-18 and the Union Budget presentation a day later pulled the Indian equities markets lower during the early morning trade session on Tuesday.

Besides, investors’ sentiments were subdued by negative global cues.

The key indices, which opened on a flat note, traded in the red, as heavy selling pressure was witnessed in stocks of automobile, IT and Teck (technology, media and entertainment).

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged down 37.90 points or 0.44 per cent, to 8,594.85 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 27,867.92 points, traded at 27,740.52 points (at 9.30 a.m.) — down 109.04 points or 0.39 per cent, from the previous close at 27,849.56 points.

The Sensex has touched a high of 27,867.92 points and a low of 27,736.01 points during the intra-day trade so far.

However, the BSE market breadth was tilted in favour of the bulls — with 654 advances and 593 declines.

On Monday, the NSE Nifty had inched down 8.50 points or 0.10 per cent, to close at 8,632.75 points, while the BSE Sensex was down 32.90 points or 0.12 per cent.

–IANS

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