Markets show early volatility but stay in green (Lead)

September 22nd, 2008 - 1:47 pm ICT by IANS  

Mumbai, Sep 22 (IANS) Indian equities markets opened strong Monday but showed volatility by going into the red zone within about 20 minutes of trading before recovering again to be in the green mid-morning.The 30-share benchmark sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened about 180 points or 1.28 percent higher and then dipped below its previous close Friday last week at 14,042.32 some 20 minutes into trading.

After one and a half hours of trading, however, the Sensex was at 14,082.38, up 40.06 points or 0.29 percent against its previous close last Friday.

The broader based 50-share S&P Nifty index of the National Stock Exchange (NSE) also showed a similar trend. It opened strong to shoot up by nearly 50 points or 1.17 percent against its previous close at 4,245.25 last Friday.

It then dipped below its previous close but recovered again to be at 4,258.35 mid-morning, up 13.1 points or 0.31 percent against its previous close last Friday.

The BSE mid cap index at 5,274.77 was also up 45.99 points or 0.88 percent against its previous close last Friday.

The BSE small cap index was at 6,274.45, gaining 58.46 or 0.94 percent over its previous close last Friday at 6,214.75.

The gains made by the mid cap and small cap indices besides the Sensex indicated that there was all round buying and the sentiment was positive, analysts said.

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