Equities markets turn choppy in early trade (Lead)June 4th, 2008 - 12:35 pm ICT by IANS
Mumbai, June 4 (IANS) The Indian equities markets, that had a mixed opening Wednesday, turned choppy in early trade due to selling pressure in capital goods, power, metals and technology scrips. The 30-share benchmark index of the Bombay Stock Exchange (BSE), the Sensex, opened with a gain of 30.34 points at 15,992.90. Barely 15 minutes into trading, it slipped into the red before making a marginal gain to reach 15,964.53 with a gain of 1.97 points or 0.01 percent from its closing figure Tuesday.
At the same time the S&P Nifty index of the National Stock Exchange was trading at 4,716.30 with a loss of 8.80 points or 0.19 percent compared to its last close.
The market breadth was positive but weak. On BSE, 933 shares advanced, 692 declined and 52 remained unchanged.
ONGC, NTPC, Ranbaxy Labs and Jaiprakash Associates were among the gainers while Maruti Suzuki, HDFC Bank, Wipro and Infosys were among the losers in initial trade.
Other Asian markets were also trading mixed.
Nikkei 225 Average was up 172.29 points or 1.21 percent at 14,381.46. Straits Times rose 4.4 points or 0.14 percent at 3,158.34. Seoul Composite was up 8.23 points or 0.45 percent at 1,827.62. Taiwan Weighted gained 40.25 points or 0.47 percent at 8,619.68.
However, Shanghai Composite was down 88.21 points or 2.57 percent at 3,348.18. Hang Seng was down 71.54 points or 0.29 percent at 24,304.22. Jakarta Composite lost 22.02 points or 0.92 percent at 2,381.80.