Bearish global cues dent equity markets

Mumbai: Bearish global cues, combined with profit booking, subdued the Indian equity markets on Tuesday. Consequently, the key indices provisionally closed the day's trade in the red as heavy selling pressure was witnessed in automobile, banking and information technology (IT) stocks. The wider 51-scrip Nifty of the National Stock Exchange (NSE) declined by 34.75 points or 0.42 per cent, at 8,335.95 points. The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 27,340.72 points, provisionally closed at 27,166.87 points (at 3.30 p.m.) -- down 111.89 points or 0.41 per cent from the previous close at 27,278.76 points. The Sensex touched a high of 27,348.66 points and a low of 27,127.30 points during the intra-day trade. The BSE market breadth was tilted in favour of the bears -- with 1,462 declines and 1,284 advances. Both the key Indian indices had ended on a higher note during the previous trade session on Monday to reach their new 2016 closing high levels. The barometer index had edged up 133.85 points or 0.49 per cent to 27,278.76 points, while the NSE Nifty gained by 42.35 points or 0.51 per cent to 8,370.70 points.