Weak global cues drag Indian equity markets

Mumbai, Nov 2 (IANS) Weak global cues dragged the Indian equity markets on Wednesday.

Both the key indices provisionally closed the day’s trade with losses of more than one per cent each, as heavy selling pressure was witnessed in healthcare, oil and gas, and automobile stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged down by 108.15 points or 1.25 per cent to 8,518.10 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 27,679.32 points, provisionally closed at 27,527.22 points (at 3.30 p.m.) — down 349.39 points or 1.25 per cent, from its previous close at 27,876.61 points.

The Sensex touched a high of 27,679.32 points and a low of 27,500.81 points during the intra-day trade.

The BSE market breadth was skewed in favour of the bears — with 1,958 declines and 977 advances.

On Tuesday, the benchmark indices had closed on a flat note on the back of weak global markets, profit booking and an outflow of foreign funds.

The barometer index had declined by 53.60 points or 0.19 per cent, while the NSE Nifty inched up by 0.55 points or 0.01 per cent.