Markets on a see-saw, Sensex up over 318 points (Lead)

May 19th, 2009 - 2:31 pm ICT by IANS  

Sensex Mumbai, May 19 (IANS) It was a see-saw trading session till noon Tuesday at the Indian equities markets, with a key index pulling back into the green after slipping more than 373 points in the morning.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which had opened higher at 14,757.82 points, and slipped more than 373 points soon after, pulled back in the green to rule at 14,602.8 points, 318.59 points or 2.23 percent up from its close Monday.

Similarly, the S&P CNX Nifty of the National Stock Exchange (NSE), was ruling at 4,369.95 points, 1.08 percent higher than its last close.

Broader market indices too climbed back into the green, with the BSE midcap index gaining 3.82 percent, while the BSE smallcap index was up 2.41 percent.

Of the 13 sectoral indices on the BSE, the indices for capital goods, realty and banking stocks gained the most, while IT and FMCG stocks came under selling pressure.

The market breadth was positive, with 1,755 stocks advancing, 711 declining and 48 remaining unchanged.

Among gainers at this time on the Sensex were L&T, up 14.86 percent at Rs.1,421; Reliance Communciations, up 12.22 percent at Rs.320.50; Reliance Infra, up 10.65 percent at Rs.1,108; and SBI, up 10.64 percent at Rs.1,745.80.

Among the losers were Infosys, down 10.56 percent at Rs.1,583; Wipro, down 6.02 percent at Rs.399.10; TCS, down 5.86 percent at Rs.688.90; and ITC, down 5.43 percent at Rs.190.80.

Other Asian markets were up, with Tokyo markets ending trade on a high with its key index, the Nikkei, closing 251.6 points in the green at 9,290.29 points.

The Hang Seng, the primary index of the Hong Kong Stock Exchange, was 404.25 points up at 17,427.16 points.

US stocks rose across the board Monday led by financial listings and a strong performance by home improvement retailer Lowe’s, restoring some of the losses from late last week.

The blue-chip Dow Jones Industrial Average rose 235.44 points, or 2.85 percent, to 8,504.08. The broader Standard and Poor’s 500 Index climbed 26.83 points, or 3.04 percent, to 909.71.

The technology-heavy Nasdaq Composite Index added 52.22 points, or 3.11 percent, to 1,732.36.

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