Subdued global cues dent equity markets, key local indices trade flat

Mumbai: Subdued global cues, along with foreign fund outflows, depressed the Indian equity markets on Tuesday. Consequently, the key indices traded flat – marginally in the green, during the early morning session. [caption id=“attachment_2772580” align=“alignleft” width=“380”]  Reuters[/caption] Heavy selling pressure was witnessed in information technology (IT) and technology, entertainment and media (TECK) stocks. The wider 51-scrip Nifty of the National Stock Exchange (NSE) gained a paltry 14.45 points or 0.18 per cent, at 8,104.15 points. The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 26,410.66 points, traded at 26,452.78 points (9.30 a.m.) – up 49.82 points or 0.19 per cent from the previous close at 26,402.96 points. The Sensex has so far touched a high of 26,469.64 points and a low of 26,378.46 points during the intra-day trade. In contrast, the BSE market breadth was skewed in favour of the bulls – with 1,128 advances and 331 declines. On Monday, the key indices ended on a flat note due to profit booking and global uncertainty which emanated out of Britain’s decision last week to exit from the European Union (Brexit). The barometer index inched up by 5.25 points or 0.02 per cent, while the NSE Nifty ended marginally in the green with gains of 6.10 points, or 0.08 per cent.