Indian equities market slips into red after openingApril 4th, 2008 - 12:19 pm ICT by admin
Mumbai, April 4 (IANS) The Indian equities market opened in the green Friday but soon slipped into the red, tracking negative cues from Asian markets. The Sensex, the 30-share benchmark index of the Bombay Stock Exchange, opened with a gain of 56.21 points at 15,896.09. But 15 minutes into trading, the Sensex slipped down to 15,749.88, a loss of 82 points compared to close Thursday.
At the same time the S&P Nifty of the National Stock Exchange was trading at 4,757.80 points, down nearly 13.80 points from its previous close.
However, the market breadth was positive though with low volumes. In the initial trade, 787 scrips advanced, 641 declined and 47 remained unchanged.
DLF, Cairn India, RPL were among the initial gainers while Ambuja Cements, BHEL, SBI, HDFC Bank, HUL, Tata Power, Reliance Energy and Hero Honda edged lower in initial trade.
Other Asian markets were trading lower. Japan’s Nikkei plunged 0.68 percent or 90.92 points at 13,298.98. Singapore’s Straits Times declined 0.38 percent or 11.92 points at 3,159.63. South Korea’s Seoul Composite dropped 0.16 percent or 2.85 points at 1,760.78.