Equity markets start in the red

August 19th, 2008 - 12:06 pm ICT by IANS  

Mumbai, Aug 19 (IANS) Indian equity markets, which opened lower Tuesday following weak global cues, were in the red in initial trade. Banking, technology, auto and power stocks were under selling pressure.The 30-share benchmark index of the Bombay Stock Exchange (BSE), the Sensex, opened with a loss of 127.90 points at 14,517.76. Ten minutes into trading, it was at 14,546.07 points, 99.59 points or 0.68 percent below its closing figure Monday.

At the same time the S&P CNX Nifty index of the National Stock Exchange was trading at 4,364.20 with a loss of 28.85 points or 0.66 percent from its previous close.

The market breadth was negative. On BSE, 537 shares advanced, 784 declined and 47 remained unchanged.

TCS, Tata Steel and Hind Unit Ltd were among the gainers while Maruti Suzuki, Sterlite Industries and Reliance Communication were among the losers in initial trade.

Other Asian markets were also trading lower.

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