Profit booking, global cues drag equity markets lower
Mumbai, Oct 25 (IANS) Profit booking, negative global cues and a weakened rupee, depressed the Indian equity markets during the early morning trade session on Tuesday.
Besides, scrip prices of variousAsubsidiariesAof industrial conglomerate Tata Sons corrected, a day after Cyrus P. Mistry was removed as its Chairman.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) fell by 30.55 points or 0.35 per cent to 8,678.40 points.
The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,159.09 points, traded at 28,066.25 points (at 10.00 a.m.) — down 112.83 points or 0.40 per cent from the previous close at 28,179.08 points.
The Sensex has so far touched a high of 28,211.41 points and a low of 28,028.59 points during the intra-day trade.
The BSE market breadth was firmly in favour of the bears — with 1,157 declines and 830 advances.
On Monday, the equity markets closed in the green due to positive global cues, bargain hunting and a strengthened rupee.
The barometer index had gained 101.90 points or 0.36 per cent to 28,179.08 points, while the NSE Nifty inched-up by 15.90 points or 0.18 per cent to 8,708.95 points.