Market opens in green but sheds gain during early trade

March 14th, 2008 - 12:43 pm ICT by admin  

A file-photo of Sensex

Mumbai, March 14 (IANS) The Indian equities market Friday opened with an upward movement in line with its Asian peers but soon shed some of its gains and was trading flat. The 30-share benchmark sensitive index of the Bombay Stock Exchange opened with a gain of 110.04 points at 15,467.39. But 15 minutes after trading started, the Sensex was at 15,422.45, still up 85.10 points from its close Thursday.

At the same time the S&P Nifty of National Stock Exchange was at 4,626.45, up by a marginal 2.85 points from its previous close.

The market breadth was modest with low volumes. In the initial trade 630 scrips advanced, 644 declined and 20 remained unchanged.

Other big Asian markets were trading higher. Hong Kong’s Hang Seng was up 0.16 percent or 35.50 points to 22,337.14. Singapore’s Straits Times jumped 11.33 points or 0.40 percent to reach 2,816.28.

But Seoul Composite was down 0.96 percent or 15.45 points at 1,600.17. Taiwan Weighted was also down 0.41 percent or 33.72 points at 8,177.27. Shanghai Composite lost 1.07 percent or 42.568 points at 3,928.689.

In Mumbai, DLF, Tata Steel, ITC, Satyam and Tata motors were the early gainers while Bharti, TCS, HDFC bank and Reliance energy were among the losers at initial trade.

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