Selling pressure, caution over GST dent equity markets (Lead)

Mumbai June 27 (IANS) The Indian equity markets traded in the red during the post-afternoon session on Tuesday as caution ahead of the Goods and Services Tax (GST) launch and heavy selling pressure in banking capital goods and automobile stocks subdued investors sentiments.

At 1.10 p.m. the wider Nifty of the National Stock Exchange (NSE) fell by 62.70 points or 0.65 per cent to 9 512.25 points.

The 30-scrip Sensitive Index (Sensex) of the BSE which opened at 31 194.68 points traded at 30 996.19 points -- down 172.02 points or 0.55 per cent from its previous close at 31 138.21 points.

The Sensex has so far touched a high of 31 294.96 and a low of 30 957.47 points during intra-day trade.

Equity benchmarks started off on a positive note. However gains were ceded on the back of profit booking and caution over GST implementation Dhruv Desai Director and Chief Operating Officer of Tradebulls told IANS.

Except for FMCG and consumer durables all other sectors traded in the red with oil and gas auto and metals bearing most of the brunt.

--IANS
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