Negative global cues, profit booking subdue equities

Mumbai, Sep 25: Key Indian equity indices -- the BSE Sensex and the NSE Nifty50 -- descended sharply on Monday to provisionally close in the red as negative global cues on the back of prevailing geo-political tensions, coupled with heavy selling pressure in index heavyweights like Adani Ports, Tata Steel and ITC, subdued investors' sentiments.

According to market observers, investors remained cautious about the government's plans for a stimulus programme, which might lead to a huge fiscal deficit.

The wider Nifty50 of the National Stock Exchange (NSE) slipped by 91.80 points or 0.92 per cent to provisionally close at 9,872.60 points (at 3.30 p.m.).

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,986.40 points , closed at 31,626.63 points -- down 295.81 points or 0.93 per cent, from its previous close at 31,922.44 points.

The Sensex far touched a high of 32,016.52 points and a low of 31,474.56 points during intra-day trade.

The BSE market breadth was bearish -- with 1,946 declines and 606 advances.

On Friday, the benchmark indices witnessed the steepest fall since November 2016, on the back of escalating geo-political tensions between North Korea and the US, a weak rupee and heavy selling pressure in capital goods, metal and banking stocks.

The Nifty50 slipped below the psychologically important 10,000 points mark, to close at 9,964.40 points, while the Sensex plunged by 447.60 points, or 1.38 per cent, to end below its psychologically important 32,000 points-level at 31,922.44 points.

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