Equities markets flat in early trade (Lead)May 6th, 2008 - 12:17 pm ICT by admin
Mumbai, May 6 (IANS) The Indian equities markets which opened with a loss Tuesday were trading flat soon after. Auto, IT and realty sectors were under selling pressure in early trade. The 30-share benchmark index of the Bombay Stock Exchange (BSE), the Sensex, opened with a loss of 65.75 points at 17,444.41. Ten minutes into trading, it went down further to 17,423.78 with a loss of 67.12 points or 0.38 percent compared to Monday’s close.
At the same time, the S&P Nifty of the National Stock Exchange was trading at 5,190.60 points, with a loss of 1.65 points or 0.3 percent.
However, the market breadth was positive on BSE with 768 shares advancing, compared to 474 that declined; 34 remained unchanged.
Tata Steel, Hindalco and ITC Ltd were the among the early gainers while Bharti Airtel, DLF Ltd and Mahindra and Mahindra were among the losers in initial trade.
Most other Asian markets were trading lower. China’s Shanghai Composite dropped 1.80 percent or 67.81 points to 3,693.20. Hong Kong’s Hang Seng fell 0.35 percent or 91.10 points to 26,092.85. Taiwan’s Taiwan Weighted was down 0.18 percent or 16.11 points to 8,820.96. Singapore’s Straits Times declined 0.22 percent or 7.28 points to 3,240.76. However, South Korea’s Seoul Composite was up 0.13 percent or 2.32 points at 1,850.59.