Markets recover marginally, continue to trade in red (Lead)June 10th, 2008 - 12:37 pm ICT by IANS
Mumbai, June 10 (IANS) The Indian equities market, which opened in the red tracking weak global cues, was trading weak Tuesday. Though there was marginal recovery, the overnight effects of the new record prices of crude oil continued to affect sentiments and trading was in the red. The 30-share benchmark sensitive index of Bombay Stock Exchange opened at 14,979.96 with a loss of 86.14 points. Twenty minutes into trade, the Sensex was trading in the red at 15,027.53, — a loss of 38.57 points or 0.26 percent.
At the same time, the S&P Nifty of the National Stock Exchange, which opened in the green, quickly slid into the red and was trading at 4,485.45 with a loss of 0.34 points compared to its last close.
The market breadth was weak. On BSE, 846 shares advanced compared to 650 that declined and 51 remained unchanged.
Ranbaxy Labs, BHEL, Reliance Infrastructure and Reliance were among the initial gainers while HDFC Bank, Hindustan Unilever, ITC and TCS were among the losers in the initial trade.
Asian markets were trading weak.
China’s Shanghai Composite slipped by 188.86 point or 5.67 percent at 3,140.
Japan’s Nikkei fell 123.41 points or 0.87 percent at 14,057.97.
Hong Kong’s Hang Seng dropped 817.95 points or 3.35 percent at 23,584.23.
Taiwan’s Taiwan Weighted lost 126.20 points or 1.47 percent at 8,461.76.
Singapore’s Straits Times plunged 32.52 points or 1.05 percent at 3,051.50.
South Korea’s Seoul Composite tumbled 36.94 points or 2.04 percent at 1,772.02.