Negative global cues subdue equity markets

Mumbai, July 18 (IANS) Negative global cues along with profit booking dragged the Indian equity markets lower during the early morning trade session on Tuesday.

According to market analysts, both the key indices -- BSE Sensex and NSE Nifty -- opened on a negative note as stocks of bluechip firm ITC fell by around 13 per cent.

However, losses were contained due to positive quarterly results, healthy monsoon rains and stable domestic political developments.

Around 9.30 a.m., the wider Nifty of the National Stock Exchange (NSE) traded lower by 44.95 points, or 0.45 per cent to 9,871 points.

The 30-scrip Sensitive Index (Sensex) of the BSE opened at 31,775.54 points, traded at 31,858.58 points -- down 216.20 points, or 0.67 per cent, from Monday's close at 32,074.78 points.

The Sensex recorded a high of 31,863.56 points and a low of 31,626.44 points during the intra-day trade so far.