Markets in the red after positive start (Lead)
March 27th, 2009 - 12:43 pm ICT by IANS
Mumbai, March 27 (IANS) Indian equities markets slipped back into the red Friday after starting in the green. About an hour into trade, a key index was ruling 0.48 percent below its last closing figure.
The Bombay Stock Exchange (BSE) Sensitive Index (Sensex), which opened at 10,036.8 points, higher than its 10,003.10 point close Thursday, was at 9,955.12 points, 0.48 percent or 47.98 points above its previous close.
The S&P CNX Nifty of the National Stock Exchange (NSE) was at 3,078.05 points, 0.14 percent down from its last close of 3,082.25.
However, the BSE midcap index was ruling 0.88 percent higher than its previous close, while the BSE smallcap index was up 0.57 percent.
Of the 13 sectoral indices on the BSE ruling in positive terrain, the index for health care and metal stocks gained the most, while IT stocks saw selling.
Among the gainers on the Sensex were Tata Steel, up 3.71 percent at Rs.2,112.40; Hindalco, up 1.82 percent at Rs.53.25; L&T, up 1.81 percent at Rs.673.30; and Sun Pharma, up 1.58 percent at Rs.1,092.10.
Among losers on the Sensex around this time were HDFC, down 2.44 percent at Rs.1,612.90; Infosys, down 2.13 percent at Rs.1,351.25; Wipro, down 2.08 percent at Rs.249.30; and TCS, down 1.79 percent at Rs.547.15.
In other Asian markets, Tokyo stocks were ruling marginally in the green towards closing bell Friday with Japan’s benchmark Nikkei 225 Stock Average at 8,648.58 points, 12.25 points higher than its previous close.
However, the Hang Seng, a key index of the Hong Kong Stock Exchange, was ruling 0.45 percent or 63.96 points in the red at 14,045.02 points.
US stock indices continued their strong monthly showing Thursday on some positive company earnings reports, the latest in a string of better-than-expected economic news in the midst of the recession.
The blue-chip Dow surged 174.75 points, or 2.25 percent, to 7,924.56, while the Standard and Poor’s 500 jumped 18.98 points, or 2.33 percent, to 832.86 and is up 13 percent this month. The technology-heavy Nasdaq index rallied 58.05 points, or 3.8 percent, to 1,587.
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