Negative global cues drag equities lower

Mumbai: Negative global cues, along with profit booking and a weak rupee, dragged the Indian equities markets lower on Friday.

Besides, investors remained cautious ahead of US President-elect Donald Trump’s inauguration.

The key indices provisionally closed in the red, as stocks of banking, consumer durables and capital goods witnessed heavy selling pressure.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) receded by 85.75 points or 1.02 per cent, to 8,349.35 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 27,232.69 points, provisionally closed at 27,034.50 points (at 3.30 p.m.) — down 274.10 points or 1.00 per cent from the previous close at 27,308.60 points.

The Sensex touched a high of 27,264.41 points and a low of 27,009.81 points during the intra-day trade.

The BSE market breadth was tilted in favour of the bears — with 1,856 declines and 847 advances.

On Thursday, the benchmark indices closed on a flat-to-positive note on the back of a weakened rupee and foreign fund outflows.

The NSE Nifty rose by 18.10 points or 0.22 per cent, to 8,435.10 points, while the BSE Sensex was up 50.96 points or 0.19 per cent.