Sensex dips further, 111 points down around noon (Lead)

June 17th, 2009 - 1:41 pm ICT by IANS  

Sensex Mumbai, June 17 (IANS) Indian equities markets remained tepid around Wednesday noon, with a key index ruling 111 points below its previous close.
The benchmark index of the Bombay Stock Exchange (BSE), the Sensex, opened at 14,978.5 points, below Tuesday’s close of 14,957.91 points. Around 12 p.m., it was trading in the red at 14,846.58 points, 111.33 points or 0.74 percent lower.

Like the Sensex, the S&P CNX Nifty of the National Stock Exchange (NSE) too fell, losing 0.93 percent from its last close to stand at 4,475.85 points.

Broader market indices continued to outperform the markets with the BSE midcap index ruling 0.31 percent up from its previous close, while the BSE smallcap index was trading 0.5 percent higher.

Of the 13 sectoral indices on the BSE, the ones for metal, capital goods and IT stocks lost the most, while those for realty and consumer durables were ruling at the top.

However, driven by buying in lesser valued scrips, the market breadth was slightly positive: 1,262 stocks advanced compared to 1,019 declining and 65 remaining unchanged.

Among gainers on the Sensex at this time were Reliance Infra, up 3.19 percent at Rs.1,309; Tata Power, up 1.62 percent at Rs.1,200; Bharti Airtel, up 1.37 percent at Rs.819; and DLF, up 1.33 percent at Rs.358.

Among the losers on the Sensex were Tata Steel, down 3.56 percent at Rs.434.85; Wipro, down 3.02 percent at Rs.385; and M&M, down 2.78 percent at Rs.753; L&T, down 2.26 percent at Rs.1,492.

Other Asian markets were mixed, with a key index of the Tokyo stock exchange, Nikkei 225 Stock Average, closing Wednesday at 9,840.85 points, 87.97 points higher than its previous close.

On the other hand, the Hang Seng, a primary index of the Hong Kong stock exchange, was ruling 239.78 points down at 17,925.72 points.

US stocks fell sharply for a second straight day Tuesday amid a poor quarterly report from retail chain Best Buy and a decline in commodity shares.

The blue-chip Dow Jones Industrial Average tumbled 107.46 points or 1.25 percent to 8,504.67 points, while the broader Standard and Poor’s 500 plunged 11.75 points or 1.27 percent to 911.97.

The technology-heavy Nasdaq Composite Index was down 20.2 points or 1.11 percent to 1,796.18 points.

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