NEW DELHI: The prevailing logjam in parliament coupled with prospects of a US rate hike and the decline in oil and gas stocks subdued Indian equity markets, leading to a barometer index to provisionally close 253 points down on Tuesday.
Initially, both the bellwether indices of the Indian equity markets opened on a negative note following their Asian peers.
Besides, prospects of a US rate hike prompted a selling frenzy among foreign investors and continued weakness in rupee’s value depressed investors.
In addition, oil and gas, energy and power companies stocks fell after a dip in global crude oil prices.
The barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) provisionally shed 253 points or 1.00 percent during the day’s trade.
Similarly, the wider 50-scrip Nifty of the National Stock Exchange (NSE) closed in the red. It provisionally closed lower by 76.45 points or 0.98 percent at 7,688.95 points.
The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 25,488.42 points, provisionally closed at 25,277.23 points (at 3.30 p.m.) — down 252.88 points or 0.99 percent from the previous day’s close at 25,530.11 points.
The Sensex touched a high of 25,542.47 points and a low of 25,256.79 points during the intra-day trade.
Markets observers elaborated that the investors’ sentiments were subdued due to the logjam in parliament which has dimmed the prospects of the Goods and Services Tax (GST) bill getting passed during the winter session.
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