Global cues drag equity markets lower

Mumbai, April 17 (IANS) Negative global cues, coupled with a weak rupee dragged the Indian equity markets lower during the mid-afternoon trade session on Monday.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) traded lower by 11.25 points or 0.12 per cent to 9,139.55 points.

The 30-scrip Sensitive Index (Sensex) of the BSE inched down by 26.41 points or 0.09 per cent.

The S&P BSE Sensex opened at 29,470.27 points, traded at 29,435.04 points (at 1.20 p.m.) from its previous close at 29,461.45 points.

The Sensex has touched a high of 29,494.08 points and a low of 29,363.28 points during the intra-day trade so far.

"Nifty commenced the week on a slightly negative note following the bearish global cues. On the other hand Bank Nifty opened on a slightly positive stance but failed to hold its morning gains and slipped in the red," Dhruv Desai, Director and Chief Operating Officer of Tradebulls told IANS.

"Firm opening of USD/INR futures has also put pressure on the benchmark indices. Along with FMCG, Tyre sector stocks are currently outperforming the equity market on support of strong buying."

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