Equity markets take a downturn by early afternoon (Lead)

August 12th, 2008 - 3:41 pm ICT by IANS  

A file-photo of Sensex

Mumbai, Aug 12 (IANS) Indian equity markets slipped into the red by early Tuesday afternoon despite having opened in positive territory. There was selling pressure on banking, realty and IT stocks. At 1:30 p.m., the 30-share benchmark index of the Bombay Styock Exchange (BSE), the Sensex, was at 15,174.44, down 329.48 points or 2.13 percent from its closing figure Monday. It had touched a low of 15,149.01 earlier Tuesday.

At the same time the broader based S&P CNX Nifty index of the National Stock Exchange was down by 89.50 points or 1.94 percent at 4,530.90.

The market breadth turned negative. On BSE, 859 shares advanced, 1,633 declined and 75 remained unchanged.

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