Selling pressure drags equities lower | February 19, 2018 06:03 PM
Selling pressure drags equities lower


Mumbai, Heavy selling pressure in capital goods, auto, metals, banking and oil and gas stocks subdued the key Indian equity indices on Monday.

The key indices recouped some losses during the late afternoon trade session, however, failing to exit the negative territory.

Index heavyweights like Tata Steel, Asian Paints, Dr Reddy's Lab, Adani Ports and Larsen and Toubro were the top five laggards on the BSE.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which had at one point fallen by over 400 points to touch an intra-day low of 34,122.96 points, provisionally closed at 33,774.66 points (at 3.30 p.m.) -- down 236.10 points or 0.69 per cent from its previous close.

The BSE market breadth was bearish as 2,000 stocks declined as against 753 advances.

On the National Stock Exchange, the wider Nifty50 shed 73.90 points or 0.71 per cent to close at 10,378.40 points.

The Nifty PSU Bank index declined by 2.46 per cent.

On Friday, the equity indices closed in the negative territory amid heavy selling pressure in bank stocks along with rising crude oil prices.

The NSE Nifty50 declined by 93.20 points or 0.88 per cent to close at 10,452.30 points, while the BSE Sensex closed at 34,010.76 points -- down 286.71 points or 0.84 per cent.

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