Global cues drag equities market lower during afternoon trade

Mumbai: Weak global cues due to a political crisis in Italy dragged the key Indian equity indices lower during afternoon trade on Wednesday.

The barometer 30-scrip Sensitive Index (Sensex), which had opened at 34,876.13 points, was trading at 34,835.72 points (12.28 p.m.) — lower by 113.52 points or 0.32 per cent — from its previous session’s close of 34,949.24 points.

The Sensex has so far touched a high of 34,876.13 points and a low of 34,735.11 points during the intra-day trade.

The broader Nifty50 of the National Stock Exchange (NSE) was trading at 10,595.20 points — down by 38.10 points or 0.36 per cent.

“Sensex and Nifty declined on early morning trade,as global markets closed in red and Asian peers were under pressure as as Italy’s political crisis rippled across financial markets,” Tradebulls’s Director and Chief Operating Office Dhruv Desai said.

In the BSE, good buying was observed in power and utilities sectors, while selling pressure was seen in banking, basic materials and telecom sectors.