Profit booking, bearish global cues dent equity markets 

Mumbai: After rising over 881 points in the last six sessions, BSE Sensex eased on Tuesday. Profit booking in an overbought market and bearish global cues weakened the market sentiment on the domestic bourses. The barometer 30-scrip BSE Sensex, which opened at 27,340.72 points, provisionally closed at 27,166.87 points down 111.89 points or 0.41 per cent from the previous close at 27,278.76 points. The wider National Stock Exchange (NSE) Nifty declined by 34.75 points or 0.42 per cent, at 8,335.95 points.

The key indices closed in the red as heavy selling pressure was witnessed in automobile, banking and information technology (IT) stocks.

“Bearish global cues combined with profit booking subdued the Indian equity markets,” said market analysts. The key indices closed in the red as heavy selling pressure was witnessed in automobile, banking and information technology (IT) stocks. The Sensex touched a high of 27,348.66 points and a low of 27,127.30 points during the intra-day trade. The BSE market breadth was tilted in favour of the bears as the bourse recorded 1,462 declines and 1,284 advances.
Both the key Indian indices had ended on a higher note during the previous trade session on Monday to reach their new 2016 closing high levels.

Japan’s Nikkei was quoting 0.67 per cent lower and Hong Kong’s Hang Seng fell 1.46 per cent, while Shanghai Composite was up 0.62 per cent.

The US markets were closed on Monday on account of the Independence Day holiday.

Source: IANS