Markets trading flat at afternoon trade

April 22nd, 2008 - 2:49 pm ICT by admin  

Mumbai, April 22 (IANS) The Indian equities market was hovering between positive and negative zones in afternoon trade. The market, which opened in the red, bounced back in early afternoon trade and again slipped into red. IT stocks declined for the second straight day as India’s top software services exporter TCS was downgraded by foreign brokerages after its earnings disappointed.

The market breadth was positive.

At 12.30 p.m., the 30-share benchmark sensitive index of the Bombay Stock Exchange was trading at 16,722.05 with a loss of 17.28 points.

At the same time, the S&P Nifty of the National Stock Exchange (NSE) was trading at 5,026.55 with a loss of 10.45 points.

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