Negative global cues pull equity markets down

Negative global cues pull equity markets down

Negative global cues pull equity markets down

NSE Nifty closed at 9,665 down by 8 points, whereas BSE Sensex closed lower by 8 points at 31,360.

The 50-share Nifty after reclaiming the 9,700-mark ended 36.95 points up, or 0.38 per cent, at 9,674.55, just shy of its life high of 9,675.10 reached on June 5. Reliance Industries was also among the gainers, leading the recovery in the market as its stock price rose 2.36 per cent to Rs 1,477.

"Buoyed sentiment in the domestic market slowed due to a caution which prevailed ahead of United States jobs data and concerns over tighter monetary policy in Europe".

The gauge had gained 159.55 points in the previous two sessions.

The market sentiment took a short-term reversal as investors preferred to keep their positions at a low ebb in view of quarterly earnings, which are due next week onwards.

The broader markets were trading on a mixed note as mid-cap index rose 0.12 per cent while the small-cap index jumped 0.45 per cent. It touched a high and a low of 64.73 and 64.75 respectively.

Meanwhile, Foreign portfolio investors (FPIs) sold shares worth a net Rs 15.29 crore crore yesterday, as per provisional data released by the stock exchanges.

Healthcare stocks saw broad-based buying, with Lupin climbing 3.6 percent and Dr Reddy's Laboratories adding 1.4 percent.

BSE 30-share index hit 31,460.70 intra-day, before closing at an all-time high of 31,369.34. However, it posted 1.5 per cent gain for the week, media reported. Domestic institutional investors (DIIs) had bought shares worth a net Rs 315.95 crore. Earlier in the day, the Indian benchmark indices edged lower tracking weaker global markets on worries the European Central Bank is moving closer to unwinding its massive monetary stimulus.

Most Asian stocks dropped following the lower close on Wall Street yesterday.

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