Equity markets flat in early trade (Lead, Reissuing with correction in Para 2)

May 21st, 2008 - 12:43 pm ICT by admin  

A file-photo of Sensex

Mumbai, May 21 (IANS) The Indian equities markets, which opened with a loss Wednesday, were flat in early trade. Capital goods, banking, power and gas sector stocks were under selling pressure. The 30-share benchmark index of the Bombay Stock Exchange (BSE), the Sensex, opened with a loss of 204.07 points at 17,065.61. Ten minutes into trading, it was at 17,089.06 with a loss 141.12 points or 0.82 percent from Tuesday’s close.

At the same time the S&P Nifty index of the National Stock Exchange was trading at 5,061.45 points with a loss of 43.50 points or 0.85 percent.

The market breadth was negative. On BSE, 572 shares advanced, 752 declined and 35 remained unchanged.

BHEL, Tata Steel and Mahindra and Mahindra were among the gainers while ICICI Bank, Ambuja Cements and HDFC Bank were among the losers in initial trade.

Other Asian markets were also trading weak.

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