Selling Pressure, Global Cues Pull Equity Indices Lower

Mumbai: Broadly negative global cues, along with heavy selling pressure in auto, consumer durables and capital goods stocks pulled the key Indian equity indices lower during the mid-afternoon trade session on Tuesday. Market observers said investors traded with caution ahead of the outcome of the Reserve Bank of India's (RBI) two-day policy review meet on Wednesday.

Around 1.10 p.m., the wider Nifty50 of the National Stock Exchange (NSE) traded lower by 49.15 points or 0.49 per cent at 10,078.60 points. The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 32,814.03 points, traded at 32,724.79 points -- down 144.93 points or 0.44 per cent -- from Friday's close. The Sensex touched a high of 32,830.91 points and a low of 32,682.52 during the intra-day trade so far.

In contrast, the BSE market breadth was bearish -- 1,641 declines and 846 advances.On Monday, the benchmark indices closed in the green with marginal gains as a surge in stocks of IT major Infosys kept market sentiments buoyed. However, profit booking in banking and auto stocks capped gains. The NSE Nifty50 inched up 5.95 points or 0.06 per cent to 10,127.75 points, while the BSE Sensex closed at 32,869.72 points -- up 36.78 points or 0.11 per cent -- from Monday's close. (IANS)