Indian equities market opens with an upswingMarch 24th, 2008 - 12:31 pm ICT by admin
Mumbai, March 24 (IANS) The Indian equities market opened Monday ahead of its previous close, mirroring the strong showing by other Asian markets. The 30-share benchmark sensitive index of the Bombay Stock Exchange, the Sensex, opened with a positive gap of 97 points at 15,093.77. Twenty minutes into trading, Sensex was trading at 15,233.98, nearly 239 points up from its close last Wednesday before a long break.
The S&P Nifty of the National Stock Exchange opened at 4,629.55 points Monday, up 55 points from its previous close.
The market breadth was however negative, with modest volumes. In the initial trade 663 scrips advanced, 781 declined and 31 remained unchanged.
Other Asian markets were trading firm. Taiwan’s Taiwan Weighted surged 4.05 percent or 344.84 points at 8,869.83. Japan’s Nikkei rose 0.37 percent or 46.33 points at 12,528.90. Singapore’s Straits Times was up 2.345 percent or 66.11 points at 2,891.02. South Korea’s Seoul Composite added 0.44 percent or 7.26 points at 1,652.95.
In the Indian market, ICICI bank, HDFC bank and Wipro limited were the gainers at initial trade, while Essar, Spice Telecom and Phoenix Mill were among the losers.