Equity markets start in the red

August 13th, 2008 - 12:14 pm ICT by IANS  

A file-photo of Sensex

Mumbai, Aug 13 (IANS) Indian equity markets opened lower Wednesday following weak global cues. They recovered a bit but were still in the red in early trade. Banking, PSU and oil and gas stocks were under selling pressure. The 30-share benchmark index of the Bombay Stock Exchange (BSE), the Sensex, opened with a loss of 181.92 points at 15,030.21 points. Ten minutes into trading, it was at 15,094.68 points, a loss of 117.45 points or 0.77 percent from its closing figure Tuesday.

At the same time the S&P CNX Nifty index of the National Stock Exchange was trading at 4,514.30 with a loss of 37.95 points or 0.83 percent from its previous close.

The market breadth was negative. On BSE, 603 shares advanced, 708 declined and 42 remained unchanged.

Sterlite Industries, Tata Steel and Infosys were among the gainers while ICICI Bank, HDFC Bank and DLF were among the losers in initial trade.

Other Asian markets were also trading lower.

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