Global cues, selling pressure pull equity indices lower


Negative global cues and heavy selling pressure in index heavyweights such as Infosys, ONGC and Tata Motors among others pulled the key Indian equity indices — the NSE Nifty 50 and the BSE Sensex — lower on Monday.

According to market observers, subdued global benchmark indices coupled with foreign fund outflows eroded investors’ risk-taking appetite.

Besides, heavy selling pressure witnessed in oil and gas, automobile, IT, banking and capital goods stocks too weighed heavy on key indices.

At 3.35 p.m., the 30-scrip Sensitive Index (Sensex) provisionally closed lower by 265 points or 0.84 per cent.

Similarly, the wider 51-scrip Nifty of the National Stock Exchange (NSE) provisionally closed lower by 83.05 points or 0.84 per cent at 9,754.35 points.

The Sensex of the BSE, which opened at 31,609.93 points, provisionally closed at 31,258.85 points (at 3.35 p.m.), lower by 265.83 points or 0.84 per cent from Friday’s close at 31,524.68 points.

The Sensex touched a high of 31,641.81 points and a low of 31,220.53 points during the intra-day trade.

However, the BSE Sensex and NSE Nifty had opened higher on Monday against their respective previous sessions’ close.