Mumbai, Dec 16 (IANS) Broadly negative global markets coupled with lower crude oil prices pulled the Indian equities markets lower during the mid-afternoon trade session on Friday.
Besides, a washout Winter Session of Parliament due to political logjam on the demonetisation issue compelled the key indices to trade on a flat-to-negative note as heavy selling pressure was witnessed in metal, banking and oil and gas stocks.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) inched down by 16.20 points or 0.20 per cent at 8,137.40 points.
The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 26,548.67 points, traded at 26,480.56 points (at 2.00 p.m.) -- down 38.51 points or 0.15 per cent from the previous close at 26,519.07 points.
The Sensex has so far touched a high of 26,594.55 points and a low of 26,455.21 points during the intra-day trade.
The BSE market breadth was tilted in favour of the bears -- with 1,340 declines and 1,090 advances.
"The equity markets traded in a tight range after yesterday's fall due to lack of any positive domestic cues," Astha Jain, Senior Research Analyst at Hem Securities, told IANS.
According to Dhruv Desai, Director and Chief Operating Officer of Tradebulls, the CNX Nifty traded with bearish sentiments due to selling pressure.
"Banking, auto, oil-gas, pharma, media-entertainment and FMCG stocks traded with mixed sentiments while cement and power sector stocks traded with bearish sentiments due to selling pressure," Desai said.
"USD/INR futures prices traded down which may limit the downside and support the recovery in Indian equity markets in the second half of the session."
On Thursday, the equity markets were subdued by negative global indices, coupled with rupee depreciation and outflow of foreign funds.
The barometer index was down 83.77 points or 0.31 per cent, while the NSE Nifty inched down by 28.85 points or 0.35 per cent.
