Market plunges following weak global cues

July 15th, 2008 - 12:08 pm ICT by IANS  

Mumbai, July 15 (IANS) The Indian equities market was trading with huge loss at the early trade Tuesday following weak global cues. Banking, telecom and select technology stocks were under selling pressure. The 30-share benchmark sensitive index of Bombay Stock Exchange opened with a loss of 263.43 points at 13,067.08 points. Five minutes into the trade, the sensex was trading at 12,967.31 with a loss of 363.50 points or 2.72 percent.

At the same time, S&P Nifty of National Stock Exchange was trading at 3,945.75 points with a loss of 93.35 points or 2.33 percent compared to its last close.

The market breadth was negative. On BSE, 212 shares advanced compared to 717 shares that declined and 23 that remained unchanged.

HDFC bank, ICICI bank and Bharti Airtel were among the major losers at the initial trade.

Asian markets were trading lower.

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