Global cues pull equity markets lower

Mumbai, Nov 3 (IANS) Indian equity markets on Thursday were pulled lower on the back of global cues, such as the US Fed’s Federal Open Market Committee (FOMC) interest rate decision and uncertainty regarding the upcoming US presidential elections.

Both the key indices provisionally closed in the red after a volatile day of trade, as heavy selling pressure was witnessed in oil and gas, healthcare, and consumer durables stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged down by 29.05 points or 0.34 per cent to 8,484.95 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 27,518.06 points, provisionally closed at 27,430.28 points (at 3.30 p.m.) — down 96.94 points or 0.35 per cent, from its previous close at 27,527.22 points.

The Sensex touched a high of 27,600.74 points and a low of 27,399.26 points during the intra-day trade.

The BSE market breadth was skewed in favour of the bears — with 1,779 declines and 1,172 advances.

On Wednesday, the benchmark indices had closed on a lower note, depressed by weak global cues.

The barometer index had declined by 349.39 points or 1.25 per cent, while the NSE Nifty lost 108.15 points or 1.25 per cent.