Indian equities markets open lower, keep going down

November 7th, 2008 - 1:03 pm ICT by IANS  

SensexMumbai, Nov 7 (IANS) Indian equities markets opened weak Friday, surged for a brief while but were in negative territory one hour into trading on weak global cues.One hour into trading, the 30-share benchmark sensitive index (Sensex) of the Bombay Stock Exchange (BSE) was at 9,647.58, down 86.64 points or 0.89 percent from its previous close at 9,734.22 points.

The Sensex opened at 9,631.59 points, down 102.63 points or 1.1 percent from its previous close Thursday but then climbed to 9,850.39, to be in positive territory for a brief while before dipping again.

The broader-based 50 share S&P CNX Nifty index of the National Stock Exchange (NSE) was also showing some volatility and was at 2,886.40 points one hour into trading, a loss of 6.25 points or 0.22 percent from its previous close at 2,892.65 points.

The Nifty too was in positive territory for some time before dipping.

The BSE midcap index was at 3,288.67, down 29.74 points or 0.90 percent from its previous close at 3,318.41 points.

The BSE smallcap index was ruling at 3,867.13, down 13.14 points or 0.34 percent from its previous close at 3,880.27.

The New York Stock Exchange and the Nasdaq had closed Thursday down 5.73 percent and 4.34 percent respectively.

Other Asian markets, however, were showing a mixed trend Friday with Nikkei, the key index of the Tokyo Stock Exchange, down 1.69 percent while the Hang Seng, key index of the Hong Kong Stock Exchange, was up 1.35 percent.

Markets were still clearly under selling pressure, analysts said.

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