Sensex falls as government presents Economic Survey (Lead)
July 2nd, 2009 - 2:33 pm ICT by IANS
Mumbai, July 2 (IANS) A key index of the Indian equities markets fell sharply Thursday as the government released the Economic Survey for 2008-09. The index fell more than 90 points to move into the red.
Shortly after 12.30 p.m., the benchmark index of the Bombay Stock Exchange (BSE), the Sensex, which opened higher at 14,694.31 points, fell to 14,596.37 points - 49.1 points or 0.34 percent below Wednesday’s closing figure.
Around the same time, the S&P CNX Nifty of the National Stock Exchange (NSE), too, was ruling in the negative terrain, 0.36 percent down at 4,325.2 points.
Broader market indices were still holding up, with the BSE midcap index trading 0.46 percent higher and the BSE smallcap index moving up 1.18 percent.
Of the 13 sectoral indices on the BSE, those for telecom, capital goods and IT stocks were losing the most, while PSU, metal and healthcare saw buying interest.
The market breadth was still positive with 1,454 stocks advancing compared to 894 declining. Eighty remained unchanged.
Among gainers on the Sensex at this time were ONGC, up 7.26 percent at Rs.1,129; Sterlite, up 3.59 percent at Rs.633.15; Sun Pharma, up 3.5 percent at Rs.1,157.45; and Tata Steel, up 3.13 percent at Rs.407.35.
The losers included Reliance Communications, down 2.28 percent at Rs.291.75; Tata Motors, down 2.27 percent at Rs.292.50; BHEL, down 2.19 percent at Rs.2,168.50; and Bharti Airtel, down 2.13 percent at Rs.805.25.
Other Asian markets were mixed with the Nikkei 225 Stock Average, a key index of the Tokyo stock exchange, closed 0.64 percent down to end Thursday’s trade at 9,876.15 points.
The Hang Seng, a primary index of the Hong Kong stock exchange, was ruling at 18,555.64 points, up 0.96 percent.
US stocks climbed higher Wednesday on slightly rosier prospects for manufacturing and housing, a day after investors celebrated the best quarter on Wall Street since 2003.
On Wednesday the blue-chip Dow Jones rose 57.06 points or 0.68 percent to 8,504.06 points, while the S&P 500 was up 4.01 points or 0.44 percent to 923.33 points.
The technology-heavy Nasdaq Composite Index gained 10.68 points or 0.58 percent to 1,845.72.
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