Global cues pull equity indices deep in the red (Lead)

Mumbai Feb 28 (IANS) Global cues -- especially the prospects of higher interest rates in the US -- subdued the Indian equity markets during the afternoon trade session on Wednesday.

Market observers said the domestic equity indices mimicked their Asian peers which traded in the red following US Federal Reserve Chairman Jerome Powell s comments on the rate hike trajectory.

At 2.00 p.m. the barometer 30-scrip Sensitive Index (Sensex) of the BSE traded at 34 132.48 points -- down 213.91 points or 0.62 per cent from its previous close of 34 346.39 points.

Similarly the wider Nifty50 of the National Stock Exchange (NSE) edged lower during the trade session. It receded by 74.95 points or 0.71 per cent to close atA 10 479.35 points.

In the intra-day the S&P BSE Sensex touched a high of 34 214.86 points and a low of 34 076.45 points.

"Equity markets cooled off following the US Fed Chairman s statement about rate rise in the US and on Asian markets cues " Dhruv Desai Director and Chief Operating Officer of Tradebulls told IANS.

--IANS
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