Indian equities continue to tumble (Second Lead)

May 8th, 2008 - 8:50 pm ICT by admin  

A file-photo of Sensex

Mumbai, May 8 (IANS) The Indian equities market continued to tumble Thursday afternoon with no sign of recovery. All indices were trading in the red. Banking, capital goods and IT led the downslide as all other international markets also slumped in the wake of crude oil price hitting a new high of $122 a barrel.

At 13.15 p.m., the 30-share benchmark index of the Bombay Stock Exchange (BSE), the Sensex, was down 225.96 points or 1.30 percent to 17,113.35. It had hit a high of 17,413.81 in early trade. At the day’s low it touched 17,038.03.

At the same time the S&P CNX Nifty index of the broader based National Stock Exchange was down by 53.55 points or 1.04 percent to 5,082.25.

The market breadth was poor with 868 shares advancing and 1,658 declining, while 71 remained unchanged.

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