Markets move southwards, Sensex down 125 points (Lead)

May 13th, 2009 - 1:50 pm ICT by IANS  

Sensex Mumbai, May 13 (IANS) Indian equities were trading volatile in a tight range a little before Wednesday noon with most analysts keeping their fingers crossed over which way the markets would swing given the uncertainty surrounding the election results. Around this time, a key index was down 124.82 points from its previous close.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which had opened at 12,201.93 points, was ruling at 12,033.21 points, 124.82 points or 1.03 percent lower than its close Tuesday.

Similarly, the S&P CNX Nifty of the National Stock Exchange (NSE) was ruling at 3,639.35 points, 1.13 percent lower than its last close.

Broader market indices were however trading in the positive terrain, with the BSE midcap index gaining 0.72 percent, while the BSE smallcap index was up 0.68 percent.

Of the 13 sectoral indices on the BSE, the indices for realty and consumer durables stocks gained the most, while IT and telecom stocks were on the losing side.

Around noon, 1,247 stocks had advanced, 844 declined and 78 remained unchanged.

Top gainers included DLF, up 4.66 percent at Rs.247.25; HDFC, up 3.52 percent at Rs.1,906.20; ACC, up 3.31 percent at Rs.614.50, and Reliance Infra, up 2.22 percent at Rs.808.25.

Realty major DLF announced Wednesday morning that its promoters would sell close to 168 million shares or about 10 percent of their stake in the company to infuse capital in its subsidiary DLF Assets, sending its scrip soaring by about 7.8 percent.

Losers around this time included Sterlite, down 2.21 percent at Rs.481.40; Infosys, down 2.05 percent at Rs.1,565.25; HDFC Bank, down 2.05 percent at Rs.1,165.30; and Mahindra and Mahindra, down 1.96 percent at Rs.512.50.

In other key Asian markets, Tokyo markets ended in the green, with its key index the Nikkei dipping from the day’s highs to end at 9,340.49 points, 41.88 points above its previous close.

The Hang Seng, the primary index of the Hong Kong Stock Exchange, was ruling 111.26 points up at 17,264.9 points.

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