Receding Chinese markets, diminishing hopes of a European stimulus package and heightened chances of a US rate hike subdued Indian equities markets on Wednesday
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.
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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.
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