Indian Markets slide despite US Congress nod to bailout planSeptember 29th, 2008 - 1:10 pm ICT by IANS
Mumbai, Sep 29 (IANS) Despite the US Congress passing legislation for the unprecedented $700 billion bailout for troubled assets, Indian equities markets opened weak and slid into the red on short selling and large institutional sales, analysts said.One hour into trading, the 30-share benchmark sensitive index (Sensex) of the Bombay Stock Exchange (BSE) breached the 13,000 mark and was at 12,895.57, down 206.61 points or 1.58 percent from its previous close Friday at 13,102.18.
The broader based 50-share S&P Nifty index of the National Stock Exchange (NSE) was ruling at 3,933, down 52.25 points or 1.31 percent from its previous close last Friday at 3,985.25.
The BSE mid cap index was at 4,822.94, down 117.88 points or 2.39 percent from its previous close at 4,940.82.
The BSE small cap index was at 5,729.62, down 132.16 points or 2.25 percent from its previous close at 5,861.78.