Negative global cues, weak rupee drag equities lower

Mumbai, Dec 22 (IANS) Broadly negative global indices, coupled with foreign fund outflows and rupee depreciation, dragged the Indian equity markets lower on Thursday.

The key indices provisionally closed in the red, as heavy selling pressure was witnessed in metal, banking and capital goods stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) declined by 82.20 points or 1.02 per cent to 7,979.10 points.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 26,224.07 points, provisionally closed at 25,979.60 points (at 3.30 p.m.) — down 262.78 points or 1.00 per cent from the previous close at 26,242.38 points.

The Sensex touched a high of 26,248.45 points and a low of 25,940.14 points during the intra-day trade.

The BSE market breadth was skewed in favour of the bears — with 1,990 declines and 660 advances.