Profit booking, global cues drag equity markets lower

equity-markets(IANS) Profit booking, coupled with negative global cues and a weak rupee, dragged the key Indian equity markets lower on Friday.

The markets provisionally closed the day’s trade in the red, as heavy selling pressure was witnessed in capital goods, oil and gas, and banking stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged down by 14.70 points or 0.18 per cent, at 8,323.20 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 27,292.20 points, provisionally closed at 27,126.90 points (at 3.30 p.m.) — down 74.59 points or 0.27 per cent from the previous close at 27,201.49 points.

The Sensex touched a high of 27,294.82 points and a low of 27,034.14 points.

The BSE market breadth was tilted in favour of the bears — with 1,539 declines and 1,165 advances.

On Thursday, the benchmark indices closed flat — marginally in the green — after a volatile trading session induced by profit booking.

Medaram Jathara

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