Indian equities open lower on weak global cuesOctober 22nd, 2008 - 12:48 pm ICT by IANS
Mumbai, Oct 22 (IANS) Indian equities opened lower Wednesday on weak global cues, especially worried over the poor performance on Wall Street, with investors rushing to book profits on previous day’s gain.The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 10,455.23, as against the previous close at 10,683.39, and dipped further to 10,364.24 points.
An hour into trading, the key index was ruling at 10,322.82 points, with a loss of 360.57 points, or 3.38 percent, over the previous close.
The 30-share barometer index had closed Tuesday at 10,683.39, up 460.30 points or 4.50 percent over Monday’s close.
The situation was similar at the National Stock Exchange (NSE), where the broader, 50-share S&P CNX Nifty index was ruling at 3,114.10 points, over the previous close at 3,234.90 points, with a loss of 3.73 percent.
The robust second quarter results of Wipro, which beat market sentiments with a 36 percent growth, had no bearing on market sentiments.