Global cues, weak rupee subdue Indian equities

Mumbai, Dec 15 (IANS) Negative global indices, coupled with depreciating rupee and profit booking, subdued the Indian equity markets on Thursday.

The two benchmark indices could not sustain their gains and provisionally closed in the red, as heavy selling pressure was witnessed in healthcare, consumer durables and FMCG stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) inched down by 28.85 points or 0.35 per cent at 8,153.60 points.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 26,497.71 points, provisionally closed at 26,519.07 points (at 3.30 p.m.) — down 83.77 points or 0.31 per cent from the previous close at 26,602.84 points.

The Sensex touched a high of 26,737.86 points and a low of 26,407.58 points during the intra-day trade.

However, the BSE market breadth was tilted in favour of the bulls — with 1,321 advances and 1,287 declines.

On Wednesday, the equity markets were suppressed by upcoming global economic events’ risks and weak European indices.

The barometer index was down 94.98 points or 0.36 per cent, while the NSE Nifty edged down by 39.35 points or 0.48 per cent.