Markets trading with loss, banking stocks fall in early trade (Lead)June 25th, 2008 - 12:27 pm ICT by IANS
Mumbai, June 25 (IANS) A day after the CRR hike by Reserve Bank of India, the Indian equities market opened Wednesday with a sharp cut. Banking, realty and PSU stocks were the worst hit. The 30-share benchmark sensitive index of Bombay Stock Exchange opened with a loss of 250.51 points at 13,856.07 points. Ten minutes into trade, the sensex was trading at 13,920.45 with a loss of 186.13 points or 1.32 percent.
At the same time, the S&P Nifty of National Stock Exchange was trading at 4,140.35 points with a loss of 50.75 points or 1.21 percent compared to its last close.
The market breadth was negative. On BSE, 298 shares advanced compared to 1,133 that declined while 23 remained unchanged.
Ranbaxy Labs, BHEL, Larsen and Toubro were among the top gainers while Hind Unit ltd, HDFC bank, ICICI bank were among the top losers during initial trade.
Asian markets were trading mixed.