Indian equities open lower again on weak global cues

October 23rd, 2008 - 12:21 pm ICT by IANS  

SensexMumbai, Oct 23 (IANS) Indian equities opened sharply lower once again Thursday on weak global cues, notwithstanding some measures announced by the central bank a day earlier to help the corporate sector raise more funds from overseas.The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened well below the 10,000-point mark at 9,683.41 points, against the previous close at 10,169.90, and moved up to 9,826.15 points some 20 minutes into trading.

Soon after, the key index dropped to 9,813.84 points, with a loss of 356.06 points, or 3.50 percent over the previous close.

All the 13 sector-specific indices of the bourses were trading in the red, while only one stock - ITC - could remain afloat among the 30 shares that go into the basket of Sensex scrips.

At the National Stock Exchange, the broader 50-share S&P CNX Nifty dropped below the 3,000-point mark and was ruling at 2,971.60 points, with a loss of 3.05 percent, data with the bourse showed.

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