Profit Booking Pulls Indian Equities Lower
MUMBAI: Profit booking, along with disappointing earning guidance from an IT major, dragged the Indian equities markets lower on Friday.
The key indices provisionally closed the day's trade on a flat note -- marginally in the red, as heavy selling pressure was witnessed in IT, automobile and Teck (technology, media and entertainment) stocks.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) shed 6.85 points or 0.08 pct to 8,400.35 points.
The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 27,378.01 points, provisionally closed at 27,238.06 points (at 3.30 p.m.) -- down 9.10 points or 0.03 pct from the previous close at 27,247.16 points.
The Sensex touched a high of 27,459.75 points and a low of 27,143.07 points during the intra-day trade.
The BSE market breadth was tilted in favour of the bears -- with 1,490 declines and 1,237 advances.
On Thursday, anticipation of healthy quarterly earnings results and budgetary sops, coupled with a strengthened rupee, had lifted the benchmark indices.
The NSE Nifty rose by 26.55 points or 0.32 pct to 8,407.20 points, while BSE Sensex was up up 106.75 points or 0.39 pct.
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