Profit taking pares early gains in Indian equity markets

Mumbai, Sep 19: Positive global indices, along with higher crude oil prices and value buying, buoyed the Indian equities markets on Monday. But profit booking and other developments pared the gains.

The sentiments were also dampened due to the upcoming global event risks such as monetary policy announcements from major economies.

Consequently, both the key Indian indices provisionally closed the day's trade on a flat-to-positive note, even as healthy buying was witnessed in metal, oil and gas and banking stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged up by 28.55 points or 0.33 per cent to 8,808.40 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,626.60 points, provisionally closed at 28,634.50 points (at 3.30 p.m.) -- up 35.47 points or 0.12 per cent from its previous close at 28,599.03 points.

The Sensex touched a high of 28,714.77 points and a low of 28,552.55 points during the intra-day trade.

The BSE market breadth was tilted in favour of the bulls -- with 1,490 advances and 1,254 declines.

Last week, on Friday, both the key Indian indices closed with appreciable gains, prompted by reduced chances of a US rate hike, foreign fund inflows and value buying.

The barometer index had surged by 186.14 points or 0.66 per cent, while the NSE Nifty was up 37.30 points or 0.43 per cent.