Mumbai, June 24 (IANS) A key index for Indian equities Thursday slipped into the red in afternoon trade, tracking negative European and mixed Asian markets after US Federal Reserve painted a mixed economic outlook.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,750.51 points, was ruling at 17,678.66 points, 77.28 points or 0.44 percent down from its previous close at 17,755.94 points.
At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty was ruling at 5,299.4 points, down 0.43 percent from its previous close at 5,323.15 points.
Broader markets indices too were dull, though some buying were seen in small companies. The BSE midcap index was ruling 0.03 percent higher and the BSE smallcap index 0.26 percent up.
The market breadth was tilted towards the positive, with 1,556 scrips on the advance, compared to 1,225 stocks declining, and 112 remaining unchanged.
Banking and realty scrips were under selling pressure, while capital goods stocks saw some buying.
A spate of short coverings tapered off as trading progressed in other Asian markets.
Traders were averse to taking up new positions after the US Federal Reserve Wednesday scaled back its outlook on the pace of economic recovery and acknowledged that there were pockets of weakness which needed to be plugged.
The Japanese Nikkei ended flat at 9,928.34 points, up 0.05 percent, while the South Korean Kospi closed at 1,739.87 points, 0.81 percent higher.
Hong Kong’s Hang Seng was trading 0.31 percent down at 20,791.88 points. The Chinese Shanghai composite index too was in the red at 2,566.75 points, down 0.12 percent.
