Equity markets flat in early trade

August 4th, 2008 - 12:28 pm ICT by IANS  

A file-photo of Sensex

Mumbai, Aug 4 (IANS) Indian equity markets, which opened lower Monday, were trading flat soon after. There was selling pressure on metal, auto and select power stocks. The 30-share benchmark index of the Bombay Stock Exchange (BSE), the Sensex, opened with a loss of 62.05 points at 14,594.64. Ten minutes into trading, it was at 14,605.03 points, still with a loss of 51.66 points or 0.35 percent from its closing figure Friday.

At the same time the S&P CNX Nifty index of the National Stock Exchange was trading at 4,401.65 with a loss of 11.90 points from its previous close.

However, the market breadth was positive. On BSE, 1,075 shares advanced, 375 declined and 29 remained unchanged.

State Bank of India, ICICI Bank and Reliance Communications were among the gainers while HDFC, TCS and Jaiprakash Associate were among the losers in initial trade.

Other Asian markets were also trading lower.

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