Markets trading with heavy loss at early trade (Lead)

July 25th, 2008 - 12:09 pm ICT by IANS  

A file-photo of Sensex

Mumbai July 25 (IANS) The Indian equities market opened on a mixed note Friday but slipped into red during early trade, mirroring weak global markets. Banking stocks were under heavy selling pressure at initial trade. The 30-share benchmark sensitive index of the Bombay Stock Exchange opened with a loss of 325.06 points at 14,451.95 points. Ten minutes into trade, the Sensex was trading at 14,416.95 with a loss of 360.06 points or 2.44 percent.

At the same time, the S&P Nifty of the National Stock Exchange was trading at 4,364.20 points with a loss of 69.35 points or 1.56 percent compared to its last close.

The market breadth was negative. On BSE, 330 shares advanced compared to 816 that declined and 18 that remained unchanged.

Satyam Computer, Wipro, TCS were among the top gainers while ICICI bank, HDFC bank Reliance Industries were among the top losers at initial trade.

Asian markets were trading lower.

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