Equity indices edge lower on weak global cues, IRCTC drops 10 pc

Key equity indices eased on Thursday from seven days of gains following a steep fall on Wall Street overnight and drop in Asian markets.

The BSE S&P Sensex closed 144 points or 0.31 per cent lower at 45,960 while the Nifty 50 lowered by 51 points or 0.38 per cent at 13,478.

Sectoral indices at the National Stock Exchange were mixed with Nifty PSU bank down by 1.4 per cent, auto by 1 per cent and private bank by 0.6 per cent.

Among stocks, agrichemicals major UPL dipped by 11.3 per cent to Rs 437 per share after reports said its promoters had siphoned off money.

Shares of Indian Railway Catering and Tourism Corporation (IRCTC) fell by 10.3 per cent after it said the government will sell up to 20 per cent stake in the company through an offer for sale to raise Rs 4,374 crore.

The other prominent losers were Tata Motors, GAIL, IndianOil Corporation, Mahindra & Mahindra, Eicher Motors, HDFC Bank and IndusInd Bank.

However, Nestle India moved up by 4.1 per cent to close at Rs 18,300 per share. Others, which gained included ITC, Britannia, Hindustan Lever, Ad Ports, HDFC Life and Tata Steel.

Meanwhile, Asian equities lost after falls on Wall Street as US lawmakers struggle to reach an agreement on a new stimulus package.

Japan's Nikkei fell by 0.23 per cent while Hong Kong's Hang Seng dropped by 0.46 per cent and South Korea's Kospi slipped by 0.33 per cent.

( With inputs from ANI )