Indian equities fall further ahead of monetary policy reviewOctober 24th, 2008 - 12:30 pm ICT by IANS
Mumbai, Oct 24 (IANS) Indian equities opened lower and fell further on all major bourses Friday on weak global cues, as investors awaited some positive signals from the central bank’s review of its monetary and credit policy.The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 9,535.41 points and soon dipped to 9,439.43, against the previous day’s close - on worries over recession in the US and overall global slowdown.
Some 45 minutes into trading, the key index was ruling at 9,440.72 points, with a loss of 330.98 points, or 3.39 percent. All the 13 sector-specific indices of the exchange were also in the red.
At the National Stock Exchange (NSE), the broader S&P CNX Nifty was ruling at 2824.65 points, with a loss of 4.03 percent.
Analysts said they hoped for some positive signals from the Reserve Bank of India, when Governor D. Subbarao conducts the half-yearly review of the monetary and credit policy for the current fiscal.