Markets move back into green after opening weak (Lead)

April 27th, 2009 - 1:55 pm ICT by IANS  

Sensex Mumbai, April 27 (IANS) Indian equities markets Monday reversed morning losses around noon, with a key index ruling 112 points in the green after opening weak.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which had opened at 11,237.42 points, was ruling at 11,441.26 points, 0.99 percent or 112.21 points higher than its previous close.

Similarly, the S&P CNX Nifty of the National Stock Exchange (NSE) was ruling at 3,496.45 points, 15.7 points higher than its last close.

Among broader market indices, the BSE midcap index rose 1.51 percent, while the BSE smallcap index was up 1.32 percent.

Of the 13 sectoral indices on the BSE, the indices for banking, capital goods and healthcare stocks gained the most.

Gainers among the 30-scrip Sensex included Sterlite, up 5.14 percent at Rs.418.30; ICICI Bank, up 4.97 percent at Rs.454; Jaiprakash Associates, up 2.98 percent at Rs.129.55; and TCS, up 2.76 percent at Rs.598.70.

Among losing scrips were Ranbaxy Laboratories, down 4.69 percent at Rs.167.50; Tata Power, down 2.18 percent at Rs.865.10; Hindustan Unilever, down 1.41 percent at Rs.234.80; and Maruti Suzuki, down 1.4 percent at Rs.791.

Other Asian markets were also trading negative, with a key Japanese index - the Nikkei of the Tokyo Stock Exchange - recovering from a steep fall to close marginally in the green at 8,726.34 points, about 18.35 points lower than its previous close.

However, the Hang Seng, a key index of the Hong Kong Stock Exchange, was ruling in the red at 14,817.88 points, 440.97 points below its previous close.

Major US stock indices had risen Friday as blue-chip companies declared earnings that beat analysts’ estimates again.

The Dow Jones Industrial Average rose 119.23 points, or 1.5 percent, to 8,076.29.

The broader Standard and Poor’s 500 Index gained 14.31 points, or 1.68 percent, to 866.23, while the technology-heavy Nasdaq Composite Index climbed 42.08 points, or 2.55 percent, to 1,694.29.

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