Indian stock markets slip into red in early trade (Lead)May 5th, 2008 - 12:08 pm ICT by admin
Mumbai, May 5 (IANS) The Indian equities markets, which opened in the green Monday, soon slipped into the red due to selling pressure in metal, IT and oil and gas sectors. The 30-share benchmark index of the Bombay Stock Exchange (BSE) opened with a gain 87.12 points at 17,687.00. But 10 minutes into trading, the Sensex was down to 17,582.57, a loss of of 17.55 points or 0.10 percent.
At the same time the S&P Nifty of the National Stock Exchange was trading at 5,209.40 with a loss of 18.80 points or 0.36 percent.
However, the market breadth was strong on BSE with 1,129 shares advancing, compared to 182 that declined; 12 remained unchanged.
Laresen & Toubro, Reliance Energy and ICICI Bank were among the gainers while Tata Motors, State Bank of India and TCS were among the losers at initial trade.
Other Asian markets were trading mixed.