Markets trading cautiously in green zone(Lead)May 13th, 2008 - 12:24 pm ICT by admin
Mumbai, May 13 (IANS) The Indian equities market bounced back Tuesday mirroring favourable global markets cues, but remained cautious as the initial trade progressed. Realty, metals, consumer durables and capital goods were once again in demand at initial trade.
The 30-share benchmark sensitive index of the Bombay Stock Exchange opened with a gain of 104.68 points or 0.62 percent at 17,008.03.
Nearly 20 minutes into initial trading, the Sensex was trading at 17,007.97 with a gain of 0.87 percent. All major sectoral indices, barring FMCG, traded in the green zone.
Similarly, the S&P Nifty of the National Stock Exchange was trading at 5,049.20 with a gain of 40.60 points or 0.73 percent.
The market breadth was positive. On BSE, 1,499 shares advanced as compared to 372 that declined and 50 which remained unchanged.
Hindalco, Jaiprakash Associates, Reliance Infrastructure and DLF were the early gainers while ITC, Bharti Airtel, ONGC and Mahindra & Mahindra were among the losers in initial trade.
Asian markets, barring Shanghai Composite, were trading higher. While Hang Seng was up 8.26 points or 0.03 percent at 25,071.43 points, Jakarta Composite was up 0.71 percent or 16.84 points at 2,394.84 points, Nikkei 225 Average rose 0.64 percent or 88.49 points at 13,831.85 points, Straits Times gained 0.28 percent or 8.94 points at 3,189.10 points, Seoul Composite rose 0.05 percent or 0.90 points at 1,824.60 points, and Taiwan Weighted was up 125.91 points or 1.43 percent at 8,955.96 points.
Shanghai Composite fell 49.42 points or 1.36 percent at 3,577.56 points.