Sensex back in the green after negative start (Lead)

March 17th, 2009 - 1:11 pm ICT by IANS  

Sensex Mumbai, March 17 (IANS) Continued positive cues from other Asian markets and buying across sectors helped Indian equities markets climb back into the green by late morning Tuesday. A key index which started trade in the red was back in positive terrain, ruling 0.52 percent above its last close.
The Bombay Stock Exchange (BSE) Sensitive Index (Sensex), which opened at 8,942.01 points, lower than its 8,943.54 point close Monday, was at 8,990.06 points late in the morning, 0.52 percent or 46.52 points higher than its previous close.

At the same time, the S&P CNX Nifty index of the National Stock Exchange (NSE) was at 2,789.20 points, 0.43 percent up from its last close of 2,777.25.

Among broader market indices, the BSE midcap index was 1.14 percent higher than its previous close, while the BSE smallcap index was also up 1.54 percent.

Of the 13 sectoral indices on the BSE, the indices for metal and realty stocks gained the most, while IT stocks saw some selling.

Among the gainers on the Sensex were Reliance Communications, up 3.48 percent at Rs.162.20; Hindalco, up 3.16 percent at Rs.44.05; ICICI Bank, up 2.99 percent at Rs.332.30; and Tata Steel, up 2.49 percent at Rs.173.05.

Losers at this time included TCS, down 2.91 percent at Rs.504.65; Hindustan Unilever, down 1.72 percent at Rs.231.45; Wipro, down 1.64 percent at Rs.224.50; and Tata Motors, down 1.53 percent at Rs.163.85.

In other Asian markets, Tokyo stocks were trading in the green a little before close Tuesday. Japan’s benchmark Nikkei 225 Stock Average was ruling 248.11 points higher than its previous close.

The Hang Seng, a key index of the Hong Kong Stock Exchange, was ruling 0.56 percent or 74.57 points above its last close, at 13,051.28 points.

US stocks ended in the red Monday, with the blue-chip Dow Jones Industrial Average ending trade 7.01 points, or 0.1 percent down at 7,216.97.

The broader Standard and Poor’s 500 Index slid 0.35 percent, or 2.66 points, to 753.89, while the technology-heavy Nasdaq Composite Index shed 27.48 points, or 1.92 percent, to 1,404.02 points.

Continuing their gains from last week, Canadian markets extended their rally Monday, with the financial sector edging higher.

The Toronto Stock Exchange (TSX) composite index rose quickly as trading began but lost early gains later in the day, closing 83.32 points higher at 8,386.71 on some sombre news on the nation’s economy.

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