Mumbai June 23 (IANS) The Indian equity markets closed in the red on Friday as broadly negative global cues coupled with caution ahead of the Goods and Services Tax (GST) implementation and heavy selling pressure subdued investor sentiments.
The wider Nifty of the National Stock Exchange (NSE) fell by 55.05 points or 0.57 per cent to close at 9 574.95 points.
The 30-scrip Sensitive Index (Sensex) of the BSE which opened at 31 352.57 points closed at 31 138.21 points -- down 152.53 points or 0.49 per cent from its previous close at 31 290.74 points.
The Sensex touched a high of 31 365.39 and a low of 31 110.39 points during intra-day trade.
The BSE market breadth was bearish -- with 1 975 declines and 653 advances.
On Thursday the domestic equity markets closed on a flat note as investors booked profits.
The NSE Nifty slipped by 3.60 points or 0.04 per cent to 9 630 points while the Sensex closed at 31 290.74 points -- up a mere 7.10 points or 0.02 per cent.
Markets ended with losses on Friday after opening on a negative note. Key indices declined due to negative cues from European stocks Deepak Jasani Head - Retail Research HDFC Securities told IANS.
Major Asian markets have ended on a mixed note. European indices like FTSE 100 CAC 40 and DAX are trading lower.
On the currency front the rupee strengthened by six paise to 64.53 to a US dollar from its previous close of 64.59.
Equity benchmark closed sharply lower with NSE Nifty hitting one week low as investors booked profit said Dhruv Desai Director and Chief Operating Officer of Tradebulls.
Caution is likely to prevail in the near term as India gears up to unveil GST on July 1 2017.
Sector-wise all 19 of the S&P BSE indices declined led by interest rate sensitive stocks like automobile by 369.22 points the bank index by 198 points and the capital goods index by 182 points.
Major Sensex gainers on Friday were: Power Grid up 1.84 per cent at Rs 205.30; Sun Pharma up 0.97 per cent at Rs 543.95; Wipro up 0.86 per cent at Rs 256.85; ICICI Bank up 0.71 per cent at Rs 291.50; and DrReddy s Lab up 0.50 per cent at Rs 2 642.50.
Major Sensex losers were: Tata Motors DVR down 2.20 per cent at Rs 275.85; Tata Motors down 2.14 per cent at Rs 443.10; Hero MotoCorp down 1.95 per cent at Rs 3 660.30; State Bank of India (SBI) down 1.94 at Rs 288.85; and ONGC down 1.56 per cent at Rs 158.
--IANS
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Selling pressure, caution over GST dent equity markets (Roundup)
