F&O expiry, negative global cues suppress equity markets

5 Dariya News

Mumbai 25-Aug-2016

Indian equity markets were subdued on Thursday as volatility was induced by futures and options (F&O) expiry, coupled with negative global cues.Consequently, the key indices provisionally closed in the red, as heavy selling pressure was witnessed in metal, information technology (IT) and automobile stocks.The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged down 58.10 points, or 0.67 per cent to 8,592.20 points. The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,103.60 points, provisionally closed at 27,835.91 points (at 3.30 p.m.) -- down 224.03 points, or 0.80 per cent from the previous close at 28,059.94 points. The Sensex touched a high of 28,154.21 points and a low of 27,803.24 points during the intra-day trade. The BSE market breadth was tilted in favour of the bears -- with 1,452 declines and 1,250 advances.On Wednesday, both the key Indian indices had closed on a flat-to-positive note, despite mixed global cues and lower crude oil prices.The barometer index had risen by 69.73 points or 0.25 per cent, while the NSE Nifty edged up 17.70 points, or 0.21 per cent.