Menu
Search

Selling Pressure In IT Stocks Pull Equities Lower

Wednesday, March 15, 2017
34
Separator
36
Separator
50
Separator
11
Separator
Print Print Email Email

MUMBAI: Heavy selling pressure in IT and Teck (technology, media and entertainment) stocks, coupled with disappointing macro-economic data pulled the Indian equity markets lower on Wednesday.

Besides, investors were cautious ahead of the US Federal Open Market Committee's meet later in the evening on whether or not to raise interest rates.

However, a strong rupee pared some losses and the key indices provisionally closed marginally lower. 

The wider 51-scrip Nifty of the National Stock Exchange (NSE) inched down by 3.80 points or 0.04 pct, to 9,083.20 points

On the other hand, the BSE Sensex, which opened at 29,452.86 points, provisionally closed at 29,387.05 points (at 3.30 p.m.) -- down 55.58 points or 0.19 pct from the previous close at 29,442.63 points.

The Sensex touched a high of 29,500.08 points and a low of 29,358.91 points during the intra-day trade.

In contrast, the BSE market breadth was marginally tilted in favour of bulls -- with 1,411 advances and 1,398 declines.

On Tuesday, the benchmark indices touched new 52-week-high levels following crucial state election results declared on March 11.

The NSE Nifty gained 152.45 points or 1.71 pct, to close at 9,087 points after touching a new high of 9,120.6 points.

Similarly, the BSE Sensex closed at 29,442.63 points -- up 496.40 points or 1.71 pct after touching a 52-week high of 29,561.93 points.

Read Also:
Looking Forward To GST: Finnish Diplomat
Despite Bottom Line Pressure, FY17 To Be The Best For Airlines


Source: IANS
Write your comment now
Submit Reset
Looking For Loan? Let us Help you !!!
Product
Name
City
Phone
Email
Loan Amount
Annual Income
Preferred banks
Captcha
Type the characters you see in the picture
  Submit
Sign Up for DailyDose and Read the Day's Highlights
Email:
Social Media