Disappointing macro-data subdues equity markets
The Indian equity markets traded on a flat-to-negative note during the mid-afternoon trade session on Thursday, as disappointing macro-economic data eroded investors' risk-taking appetite.
According to market observers, other factors such as a weak rupee and broadly negative global cues also subdued the key stock markets.
The 30-scrip Sensitive Index (Sensex) of the BSE fell by 34 points or 0.11 per cent.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged lower by 18.05 points or 0.19 per cent at 9,603.20 points.
The S&P BSE Sensex, which opened at 31,117.09 points, was trading at 31,111.41 points (at 1.35 p.m.), was lower by 34.39 points or 0.11 per cent from the previous day's close at 31,145.80 points.
The Sensex touched a high of 31,213.12 points and a low of 31,062.02 points during the trade so far.
"Nifty is extending losses after opening flat as investors are taking some profit off the table after GDP growth came at 6.1 per cent," Dhruv Desai, Director and Chief Operating Officer of Tradebulls, said.
"Indian Rupee too is depreciating against US dollar in line with our weak equity market. Banking stocks dragged indices lower."