Profit booking, weak rupee subdue equity markets
Key Indian equity markets were on Friday suppressed by profit booking, a weak rupee and lower crude prices.
Mumbai: Key Indian equity markets were on Friday suppressed by profit booking, a weak rupee and lower crude prices.
Consequently, the key indices provisionally closed the day`s trade in the red, as heavy selling pressure was witnessed in IT (information technology) and TECK (media, entertainment and technology) stocks.
The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 27,966.14 points, provisionally closed at 27,836.50 points (at 3.30 p.m.) -- down 105.61 points or 0.38 per cent from the previous close at 27,942.11 points.
It touched a high of 28,048.70 points and a low of 27,735.87 points during the intra-day trade.
The BSE market breadth was tilted in favour of the bears -- with 1,671 declines and 1,006 advances.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged down to 8,538.35 points -- down 26.65 points or 0.31 per cent.
On Thursday, the benchmark indices closed in the positive territory, supported by positive global cues and a strong rupee.
The barometer index was up 126.93 points or 0.46 per cent, while the Nifty edged up by 45.50 points or 0.0.53 per cent.