Indian equities open weak in line with global peers

February 15th, 2008 - 1:09 pm ICT by admin  

Mumbai, Feb 15 (IANS) The Indian equities market opened on a weak note Friday after a strong close the previous day on weak global cues, with stocks of technology, realty and power companies registering losses. The benchmark sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened in the red at 17,541.17 points with a loss of 225.46 over the previous day’s close.

After an hour into trading, the benchmark index was ruling at 17,636.94 points, with a loss of 129.69, or 0.73 percent, over the previous day’s close. The broader 50-share Nifty was also in the red with a loss of 0.28 percent.

The market breadth was weak with stocks that were in the red outnumbering those in the positive territory in the ratio of 111:102. One stock remained unchanged.

Major losers in the opening trade included Associated Cement Companies, Reliance Petroleum, Reliance Communications, Satyam Computers, ITC, Unitech, Infosys and Grasim.

Other Asian markets were also trading weak. Hong Kong’s Hang Seng plunged 1.98 percent, Japan’s Nikkei dropped 1.49 percent, the Taiwan Weighted was down 0.25 percent, the Seoul Composite fell 0.95 percent and Singapore’s Straits Times dropped 0.22 percent.

Thursday saw the Dow plunge 1.40 percent, the Standard and Poor’s 500 index decline 1.34 percent and the tech-heavy Nasdaq Composite Index drop 1.74 percent.

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in Business |