Selling pressure, caution over GST dent equity markets

The Indian equity markets provisionally closed in the red on Friday as broadly negative global cues, coupled with caution ahead of the Goods and Services Tax (GST) implementation and heavy selling pressure subdued investor sentiments.

The wider Nifty of the National Stock Exchange (NSE) fell by 55.05 points, or 0.57 per cent, to provisionally close at 9,574.95 points.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,352.57 points, provisionally closed at 31,138.21 points -- down 152.53 points, or 0.49 per cent, from its previous close at 31,290.74 points.

The Sensex touched a high of 31,365.39 and a low of 31,110.39 points during intra-day trade.

On Thursday, the domestic equity markets closed on a flat note as investors booked profits.

The NSE Nifty slipped by 3.60 points, or 0.04 per cent to 9,630 points, while the Sensex closed at 31,290.74 points -- up a mere 7.10 points, or 0.02 per cent.