Indexes are subdued by negative global cues, metal stocks fall (Ld).

Mumbai, November 18 : .

Indias main stock indices S&P BSE Sensex & NSE Nifty50 were subdued by negative global cues and inflationary concerns during Thursdays mid-afternoon trading sessionInitial openings of the two indexes were positive.

All sectors traded in red, with the loss leaders being Metals and Capital Goods as well as Auto, IT, Healthcare, and IT.The S&P BSE Sensex was at 59.665.68 points as of 2.30 p.m.This is down 342.65 point or 0.57 percent The opening price was 60,179.93 Points, compared to the 60,008.33 point closing.Similar to the 50-scrip Nifty traded lower at National Stock Exchange, (NSE).The trade session saw it trading at 17,778.45 Points, down 120.80 or 0.67 percent.Deepak Jasani (Head of Retail Research at HDFC Securities) stated that global markets were flat or mildly negative because traders considered the risks of a faster monetary policy tightening in order to combat inflation.

The downside of Nifty is still below 17,613, so bearish movements cannot be excluded for the time being.Likhita Cherpa Senior Research Analyst at CapitalVia Global Research stated that "Domestic sentiment can be affected by negative cues coming from Asian markets, along with inflationary pressures partly driven by rising energy prices.

" Our research indicates that the levels of 58,900 to 59,300 may provide some support for the market.We can anticipate it trading in the range of 58,000-60,000.

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