Selling pressure subdues Indian equities

Mumbai, Nov 18 (IANS) Indian equity markets on Friday provisionally closed on a negative note, as selling pressure, worries over a possible US rate hike in December and a weak rupee subdued investors’ sentiments.

The key Indian indices witnessed a choppy session only to provisionally close the day’s trade in the red, as consumer durables, banking and metal stocks came under heavy selling pressure.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) inched down by 5.85 points or 0.07 per cent to 8,074.10 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 26,270.20 points, provisionally closed at 26,150.24 points (at 3.30 p.m.) — down 77.38 points or 0.30 per cent from the previous close at 26,227.62 points.

The Sensex touched a high of 26,349.02 points and a low of 26,106.78 points during the intra-day trade.

However, the BSE market breadth was marginally tilted in favour of the bulls — with 1,314 advances and 1,265 declines.

On Thursday, the Indian equity markets had closed in the red on the back of worries over a possible US rate hike and lower crude oil prices.

The barometer index was down by 71.07 points or 0.27 per cent, whereas the NSE Nifty edged lower by 31.65 points or 0.39 per cent.