Equity indices trim losses, close flat-to-negative

Equity indices trim losses, close flat-to-negative

Mumbai: Key Indian equity indices, which traded in the negative territory during the day on the back of weak cues from the Asian markets and selling pressure, pared some losses to provisionally close Wednesday’s trade on a flat-to-negative note.

According to market observers, a sharp recovery in banking stocks helped the indices to trim their losses.

The wider Nifty50 of the National Stock Exchange (NSE) provisionally closed at 10,410.90 points (at 3.30 p.m.) — 15.95 points or 0.15 per cent lower from the previous session’s close.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 33,733.55 points, closed at 33,835.74 points — down 21.04 points or 0.06 per cent.

The Sensex touched a high of 33,875.15 points and a low of 33,580.69 points during the intra-day trade.

The BSE market breadth was bearish with 1,349 declines and 1,331 advances.

On Tuesday, the indices gave up all gains to close on a flat note due to the sell-off in Tata Consultancy Services’ stocks and profit booking in the banking sector scrips.

The Nifty50 inched up 5.45 points or 0.05 per cent to close at 10,426.85 points, while the Sensex closed at 33,856.78 points — down 61.16 points or 0.18 per cent.