Weak global cues depress equity indices

Weak global cues depress equity indices

Mumbai: The key Indian equity indices provisionally closed lower on Friday following broadly negative global cues such as high crude oil prices and geo-political tensions in the Middle East.

According to market observers, heavy selling pressure was witnessed in the auto, healthcare and metal stocks.

At 3.30 p.m., the wider Nifty50 of the National Stock Exchange (NSE) provisionally closed at 10,618.25 points, down by 61.40 points or 0.57 per cent from the previous close.

Similarly, the barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 35,144.96 points, closed at 34,915.38 points (3.30 p.m.) – down 187.76 points or 0.53 per cent — from its previous session’s close.

The Sensex touched a high of 35,206.55 points and a low of 34,847.61 points.

The BSE market breadth was bearish with 1,575 declines and 1,121 advances.

The major gainers during the day on the BSE were Adani Ports, Hindustan Unilever, HDFC Bank, Power Grid and IndusInd Bank while Sun Pharma, ITC, Bajaj Auto, Yes Bank and Axis Bank were the major losers.

On the NSE, the top gainers were Adani Ports, GAIL and Tech Mahindra. The major losers were Sun Pharma, ITC and Bajaj Auto.

On Thursday, the equity indices had ended in the red due to disappointing quarterly results, along with heavy selling pressure in capital goods, IT and FMCG stocks.

The Nifty50 had closed at 10,679.65 points — down 38.40 points or 0.36 per cent — from the previous session’s close, while the Sensex closed at 35,103.14 points — down 73.28 points or 0.21 per cent — from its previous close.