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Asian markets dent Indian equities, Sensex closes 109 pts down

The S&P BSE Sensex, which opened at 26,469.42 points, closed at 26,283.09 points - down 109.29 points or 0.41 per cent from Friday's close at 26,392.38 points.

IANS | August 31, 2015 | Updated 15:56 IST
Asian markets dent Indian equities, Sensex closes 109 pts down
Photo: Reuters

Despite hopes of healthy economic expansion data, the slide in Asian bourses and a weaker rupee dented the Indian equity market on Monday.

Bearish sentiments due to negative Asian cues dampened trade at the barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which fell by 109.29 points or 0.41 per cent.

Weak sentiments were also witnessed at the wider 50-scrip Nifty of the National Stock Exchange (NSE). The CNX Nifty of the NSE declined by 30.65 points or 0.38 per cent at 7,971.30 points.

The S&P BSE Sensex, which opened at 26,469.42 points, closed at 26,283.09 points - down 109.29 points or 0.41 per cent from Friday's close at 26,392.38 points.

Analysts pointed out that the negative cues eminating out of Asian markets, especially due to the slide in the Chinese markets, made investors reluctant to chase higher prices.

"The markets are lower due to the fall in Asian markets. Despite attractive valuations, bargain hunting is being resisted due to the Asian markets factor and its consequence - the weakening in rupee value," Anand James, co-head, technical research, Geojit BNP Paribas, told IANS.

"However, the markets might pick up on the back of healthy GDP data due to be released later on Monday. A healthy data coupled with government's attempts to restart the consensus-building efforts to pass the GST bill (goods and services tax) have the potential to support the Indian equities."

Sector-wise, automobile, capital goods and consumer durables came under heavy selling pressure.

The S&P BSE automobile index plunged by 125.75 points, the capital goods index receded by 109.21 points and consumer durables index declined by 56.37 points.

On the other hand, healthcare index augmented by 323.18 points, metal index gained by 72.09 points and oil and gas sector was higher by 62.73 points.

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