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IT, teck stocks drag Indian equities lower

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Mumbai, Aug 7 (IANS) Despite positive global cues, the Indian equity markets provisionally closed on a flat-to-negative note on Monday as investors booked profits.

Heavy selling pressure was observed in IT, teck (technology, media and entertainment) and consumer durables stocks.

At 3.30 p.m., the wider Nifty50 of the National Stock Exchange (NSE) provisionally closed at 10,057.40 points — down 9 points or 0.09 per cent — from its previous session’s close.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 32,377.80 points, traded at 32,273.67 points — down 51.74 points, or 0.16 per cent — from its previous close at 32,325.41 points.

The Sensex touched a high of 32,396.14 points and a low of 32,235.82 points during intra-day trade.

The BSE market breadth was bullish with 1,551 advances and 1,047 declines.

On Friday, the benchmark indices closed in the green as broadly positive European markets and a surge in buying activities in consumer durables, oil and gas, and metal stocks lifted investors’ sentiments.

The Nifty50 closed higher by 52.75 points or 0.53 per cent at 10,066.40 points, while the Sensex closed at 32,325.41 points — up 87.53 points, or 0.27 per cent.

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