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Geo-political tensions drag equity markets lower
Key Indian equity indices were dragged lower during the mid-afternoon trade session on Tuesday as rising tensions in the Korean Peninsula dented investors\' risk-taking appetite.
Mumbai: Key Indian equity indices were dragged lower during the mid-afternoon trade session on Tuesday as rising tensions in the Korean Peninsula dented investors' risk-taking appetite.
According to market observers, broadly negative global indices and subdued domestic growth outlook too dampened key indices.
At 1.15 p.m., the 30-scrip Sensitive Index (Sensex) traded 88.27 points or 0.28 per cent lower.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) traded lower by 24.95 points or 0.25 per cent at 9,847.65 points.
The Sensex of the BSE, which opened at 31,685.81 points, traded at 31,538.36 points (at 1.15 p.m.), lower by 88.27 points or 0.28 per cent from its previous day's close at 31,626.63 points.
The Sensex touched a high of 31,693.59 points and a low of 31,455.65 points during the intra-day trade so far.
"The market made a subdued start on Tuesday, in line with a sluggish Asian opening, as worries over North Korea made investors cautious," Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.
"FMCG, consumer durables, banking and PSU banking stocks were in the red, losing up to 0.32 per cent. The rupee weakened by 18 paise to a fresh six-month low of 65.28 against the US dollar during early trade."
