Market slips into red in afternoon trade

April 23rd, 2008 - 3:06 pm ICT by admin  

A file-photo of Sensex

Mumbai, April 23 (IANS) After opening on a firm note, the market Wednesday slipped into red and pared losses. At 1.10 p.m., the 30-share benchmark sensitive index of the Bombay Stock Exchange was trading at 16,677.50 with a loss of 106.27 points or 0.63 points. The Sensex had hit a high of 16,871.27 in early trade. At day’s high, the Sensex rose 87.40 points.

At the same time, the S&P Nifty of the National Stock Exchange was at 5,041.20 with a loss of eight points or 0.16 percent.

Seventeen shares from the 30-member Sensex pack declined. Banking stocks saw selling pressure. However, metal stocks recovered from early lows. Software stocks were mixed.

The market breadth turned negative. On BSE, 1,286 shares declined as compared to 1,215 that advanced; 52 remained unchanged.

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