Markets close in red; Buffet Indicator at play?

With negative global cues and surge in crude oil prices turning investors risk-averse, key Indian equity markets on Thursday provisionally closed the day`s trade in the red.

Heavy selling pressure was witnessed in the information technology (IT), fast moving consumer goods (FMCG) and automobile sectors.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) ended at 8,203.60 points -- down 69.45 points or 0.84%. The BSE Sensex, which opened at 26,994.48 points, provisionally closed at 26,763.46 points (at 3.30 p.m.) -- down 257.20 points or 0.95% from the previous day`s close at 27,020.66 points.

During the intra-day trade, the Sensex touched a high of 26,994.91 points and a low of 26,692.35 points.

The BSE market breadth was tilted in favour of the bears -- with 1,336 declines and 1,233 advances. The S&P BSE IT index plunged by 251 points, followed by the FMCG index, which declined by 133.40 points; and the automobile index fell by 120.91 points.