Markets begin in red on negative Asian cues

February 20th, 2008 - 2:49 pm ICT by admin  

A file-photo of Sensex

Mumbai, Feb 20 (IANS) The Indian equities market opened in the red Wednesday on negative cues from weak Asian markets. The 30-share sensitive index (Sensex) of Bombay Stock Exchange (BSE) opened with a loss of 84.37 points at 17,991.29.

The S&P CNX Nifty on the National Stock Exchange opened at 5,267.15 points, down 13.67 over the previous day’s close.

Market breadth was negative with low volumes. At BSE, 507 scrips advanced, 697 declined and 29 remained unchanged in early trade.

Asian markets were trading lower. Japan’s Nikkei dropped 0.77 percent or 106.27 points at 13,651.64. Hong Kong’s Hang Seng slipped 0.39 percent or 95.26 points at 24,027.91.

Taiwan’s Taiwan Weighted was down 0.29 percent or 23.67 points at 8,000.74. Singapore’s Straits Times plunged 0.71 percent or 21.90 points at 3,076.16 points. South Korea’s Seoul Composite fell 0.56 percent or 9.60 points at 1,710.92.

In initial trades, HDFC Bank, ICICI Bank, Reliance Communication and Bharti Airtel were the prominent losers.

However, technology stocks such as Satyam and HCL Technologies gained.

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