Indian equity markets slip on negative global cues

Indian equity markets were suppressed by negative global cues and a weak rupee during the mid-afternoon session on Monday.

IANS| Updated: Aug 22, 2016, 15:51 PM IST

Mumbai: Indian equity markets were suppressed by negative global cues and a weak rupee during the mid-afternoon session on Monday.

Consequently, both the key equity indices provisionally closed the day`s trade in the red, as heavy selling pressure was witnessed in information technology (IT), technology, media and entertainment (TECK) and automobile stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged down 37.75 points or 0.44 percent to 8,629.15 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,088.07 points, provisionally closed at 27,985.54 points (at 3.30 p.m.) -- down 91.46 points or 0.33 percent from the previous close at 28,077 points.

The Sensex touched a high of 28,143.28 points and a low of 27,918.05 points during the intra-day trade.

The BSE market breadth was slightly tilted in favour of the bears -- with 1,401 declines and 1,287 advances.

On Friday, the benchmark indices had closed flat -- marginally in the red -- due to profit booking and negative global cues.

The barometer index had receded by 46.44 points or 0.17 percent, while the NSE Nifty slipped by 6.35 points or 0.07 percent.