Global cues, results subdue markets; Sensex down 34 points
Mumbai: Receding Chinese markets, diminishing hopes of a European stimulus package and heightened chances of a US rate hike subdued Indian equities markets on Wednesday.
The negative global cues coupled with caution over the ongoing results season spooked investors leading to a barometer index of the Indian equities markets provisionally closing 34 points down at the end of the day's trade.
Initially, both the bellwether indices opened higher on the back of better-than-expected quarterly results which were released on Tuesday.
However, both indices ceded their initial gains as investors were seen reluctant to chase higher prices.
The wider 50-scrip Nifty of the National Stock Exchange (NSE) traded flat during the day's trade. It closed provisionally lower by 13.45 points or 0.16 percent at 8,248.20 points.
The barometer 30-scrip sensitive index (S&P Sensex) of the Bombay Stock Exchange (BSE), which opened at 27,312.35 points, provisionally closed at 27,272.78 points (at 3.30 p.m.) -- 34.05 points or 0.12 percent lower from its previous close at 27,306.83 points.
The Sensex touched a high of 27,445.24 points and a low of 27,190.55 points during the intra-day trade.
The barometer index closed 58.09 points or 0.21 percent lower on Tuesday, the previous trading session.