Disappointing Q1 results, global cues depress equity market

MUMBAI: Disappointing quarterly results, along with the global markets' downturn, depressed the Indian equity market on Thursday.

The global markets were impacted as the Federal Reserve's pledge to use all its tools to support the US economy failed to reassure investors about a stalemate on fiscal support and rising coronavirus cases.

Investors were also wary ahead of data that is likely to show that the US economy shrank during the second quarter at the steepest pace since World War II.

Consequent to derivatives expiry, the key equity indices fell sharply during a volatile trade session.

Besides, market breadth was negative on both the BSE and the NSE.

Sectorally, the top gainers were the BSE Healthcare and IT indices, while top losers included BSE Telecom, Oil and Gas, Bankex and Power indices.

Index-wise, the NSE Nifty50 closed at 11,102.15, down by 100.70 points or 0.90 per cent from its previous close.

The Sensex closed at 37,736.07, lower by 335.06 points or 0.88 per cent from the previous close of 38,071.13.

It had opened at 38,262.83 and touched an intra-day high of 38,413.81 and a low of 37,678.42 points. (IANS)

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