Mumbai Aug 10 (IANS) Profit booking along with broadly negative global cues subdued the Indian equity market during the early morning trade session on Friday.
According to market observers heavy selling pressure was witnessed in banking oil and gas and metal stocks.
The two key equity indices -- S&P BSE Sensex and NSE Nifty50 -- had opened in the green.
However minutes into the day s trade both the indices quoted in the red.
At 9.30 a.m. the benchmark S&P BSE Sensex traded at 37 964.46 points lower by 59.91 points or 0.16 per cent from its previous close.
The barometer index touched a high of 38 051.45 points and a low of 37 918.35 points during the intra-day trade.
Similarly the wider NSE Nifty50 traded at 11 460.25 points lower by 10.45 points or 0.09 per cent.
On Thursday -- the last trade session -- foreign fund inflows along with domestic political developments lifted the Indian equity indices to their new record intra-day and closing highs.
Consequently the benchmark Sensex closed at a new record high of 38 024.37 points higher by 136.81 points or 0.36 per cent. It touched a record intra-day high of 38 076.23 points.
The wider NSE Nifty50 made a new closing high of 11 470.70 points higher by 20.70 points or 0.18 per cent. It had hit a fresh intra-day record high of 11 495.20 points.

--IANS bha-rv/ksk