Profit booking, negative global cues subdue equity indices

Profit booking along with broadly negative global cues subdued the Indian equity market during the mid-afternoon trade session on Friday.

According to market observers, heavy selling pressure was witnessed in banking, and metal stocks.

In the afternoon the wider Nifty 50 of the National Stock Exchange (NSE) traded at 11,443.35 points lower by 27.35 points or 0.24 per cent from its previous close.

Similarly, the benchmark S&P BSE Sensex made loss during the session. It traded at 37,917.36 points lower by 107.01 points or 0.28 per cent from its previous close.

Sector-wise, S&P BSE consumer durable gained 184.15 points and the auto index rose 145.18.

On the other hand, the S&P BSE banking index declined by 160.85 and the metal index dipped by 142.81.

On Thursday — the last trade session — foreign fund inflows, along with domestic political developments, lifted the Indian equity indices to their new record intra-day and closing highs.

Consequently, the benchmark Sensex closed at a new record high of 38,024.37 points, higher by 136.81 points or 0.36 per cent. It touched a record intra-day high of 38,076.23 points.

The wider NSE Nifty50 made a new closing high of 11,470.70 points, higher by 20.70 points or 0.18 per cent. It had hit a fresh intra-day record high of 11,495.20 points.

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