Q2 results, NPAs drag Sensex 254 pts lower

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SME Times News Bureau | 26 Oct, 2016
Disappointing quarterly earning results combined with caution over the rise in non-performing assets (NPAs) of the banking sector and negative global cues dragged the Indian equity markets lower on Wednesday.

Besides, lower global crude oil prices and anxiety over the upcoming F&O (futures and options) expiry dented investors' sentiments.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged lower by 76.05 points or 0.88 per cent to provisionally close at 8,615.25 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,050.55 points, provisionally closed at 27,836.51 points (at 3.30 p.m.) -- down 254.91 points or 0.91 per cent from the previous close at 28,091.42 points.

The Sensex touched a high of 28,050.55 points and a low of 27,759.56 points during the intra-day trade.

The BSE market breadth was firmly in favour of the bears -- with 1,586 declines and 1,184 advances.

On Tuesday, the equity markets closed in the red due to a massive outflow of foreign funds and profit booking.

The barometer index had receded by 87.66 points or 0.31 per cent to 28,091.42 points, while the NSE Nifty inched lower by 17.65 points or 0.20 per cent to 8,691.30 points.