Indian equities market slips into red after opening flatApril 8th, 2008 - 12:15 pm ICT by admin
Mumbai, April 8 (IANS) The Indian equities market opened Tuesday with a marginal positive gap but soon slipped into red tracking other Asian markets, which were running weak. The 30-share benchmark index of the Bombay Stock Exchange, the Sensex, opened with a gain of 13.08 points at 15,770.16. But 10 minutes later, it had slipped into the red and was trading with a loss of 51.02 points at 15,705.99.
At the same time, the S&P Nifty of the National Stock Exchange, which opened at 4,760.65 points, was trading at 4,741.30, a loss of 19.90 points from its previous close.
On BSE the market breath was positive with low volumes; 571 scrips advanced, 487 declined and 27 remained unchanged.
In the initial trade, BHEL, HDFC Bank, Reliance Communications and Satyam Computeres were among the initial gainers while L&T, Grasim Industries, Bharti Airtel and Wipro Ltd were among the top laggards.
Other Asian markets were trading weak. Japan’s Nikkei was down 0.93 percent or 125.22 points at 13,325.01. Hong Kong’s Hang Seng slipped 0.85 percent or 209.29 points at 24,369.47. Taiwan’s Taiwan Weighted fell 0.22 percent or 18.79 points at 8,711. Singapores’s Straits Times declined 0.47 percent or 14.86 points to 3,167.06. South Korea’s Seoul Composite dropped 1.03 percent or 18.26 points to 1,755.30.