Markets trading in a slump (Lead)February 5th, 2009 - 1:47 pm ICT by IANS
Mumbai, Feb 5 (IANS) Indian equities markets, which opened higher Thursday, fell as trade progressed, with a key index down 1.07 percent over its previous close around noon.The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) was at 9,103.77 points, 1.07 percent or 98.08 points lower than Wednesday’s close. It had opened at 9,241.56 points, higher than its previous close at 9,201.85 points.
At the same time, the broader-based S&P CNX Nifty of the National Stock Exchange (NSE) was at 2,784.3 points, 0.67 percent down from its previous close of 2,803.05.
Broader market indices were down with the BSE midcap index trading 0.15 percent lower and the BSE smallcap losing 0.14 percent.
Of the 13-sectoral indices on the BSE, metal and FMCG indices were up, indicating such stocks were doing better than others.
Leading the gainers’ list on the Sensex at this time were Tata Steel (up 2.65 percent to Rs.183.90) and Hindalco (up 0.23 percent at Rs.44.40).
Among losing scrips were Sterlite Industries (down 3.92 percent to Rs.268.40), Mahindra and Mahindra (down 3.54 percent at Rs.272.85), Maruti Suzuki (down 3.01 percent at Rs.583.90) and Tata Motors (down 2.66 percent at Rs.131.65).
In Asian markets, a key index of the Tokyo Stock Exchange, the Nikkei 225 Stock Average was ruling 1.29 percent lower at 7,935.36.
The Hang Seng, a key index of the Hong Kong Stock Exchange, rose 2.69 percent over its last close.
US stocks were dragged down by disappointing earnings and outlook warnings Wednesday despite a better-than-expected service sector report.
The Dow Jones industrial average fell 121.70 points, or 1.51 percent, to close at 7,956.66, while the Standard and Poor’s 500 Index slipped 6.30 points, or 0.75 percent, at 832.21. The Nasdaq Composite Index shed 1.25 points, or 0.08 percent, to end at 1,515.05.
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