Global cues dent markets, Sensex down 92 points

Mumbai: Geo-political tensions, coupled with caution over upcoming macro-data and quarterly results, pushed down Indian equity markets during the mid-afternoon trade session on Wednesday.

This led to a barometer index of the Indian equity markets trading in the red - down 92 points.

Initially, both the bellwether indices opened on a flat-to-negative range in the wake of two days of consecutive falls, disappointing domestic macro-data and global uncertainties.

Nevertheless, both the indices soon pared their losses on the back of short-covering, value-buying and positive Asian markets' close.

Finance Minister Arun Jaitley's comments on Tuesday regarding further reforms in the infrastructure sector also buoyed sentiments.

However, the bellwether indices soon receded and were trading in the red due to caution over upcoming US based macro-data and rising geo-political tensions in the far east following North Korea's testing of a thermo-nuclear device.

Besides, investors were seen cautious regarding the upcoming domestic macro-data on industrial output, retail inflation and the third-quarter earning results which start coming in from January 12.

The barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) shed 92 points, or 0.36 percent.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was trading flat. It was marginally down 1.50 points, or 0.02 percent, at 7,783.15 points.

The Sensex of the S&P BSE, which opened at 25,628.23 points, was trading at 25,487.97 points (1.55 p.m.) -- down 92.37 points, or 0.36 percent from the previous day's close at 25,580.34 points.

The Sensex has so far touched a high of 25,632.57 points and a low of 25,486.65 points in intra-day trade.

The Sensex closed the previous session on January 5 down 43 points, or 0.17 percent, while the Nifty was lower by 7 points, or 0.09 percent.

Nonetheless, the S&P BSE market breadth slightly favoured the bulls -- with 1,614 advances and 1,165 declines.