Sensex makes up for morning losses by noon (Lead)

June 16th, 2009 - 2:23 pm ICT by IANS  

Sensex Mumbai, June 16 (IANS) A key index of the Indian equities markets made a comeback after slipping more than 200 points on opening Tuesday, and despite volatile conditions, it was ruling just above its previous close a little after noon.
The benchmark index of the Bombay Stock Exchange (BSE), the Sensex, opened at 14,788.27 points, above Monday’s close of 14,872.23 points. Around 12.30 p.m., it was trading in the green at 14,885.31 points, 11.16 points or 0.08 percent higher.

Like the Sensex, the S&P CNX Nifty of the National Stock Exchange (NSE) too rose, gaining 0.17 percent from its last close to stand at 4,491.45 points.

Broader market indices were also back in the green, with the BSE midcap index ruling 0.48 percent up from its previous close, while the BSE smallcap index was trading 0.38 percent higher.

Of the 13 sectoral indices on the BSE, the ones for IT, metal and energy stocks were among the lost the most, while those for power and banking stocks were ruling at the top.

The market breadth was slightly negative, with 1,104 stocks advancing, 1,259 declining and 79 remaining unchanged.

Among gainers on the Sensex at this time were Reliance Infra, up 5.26 percent at Rs.1,258; SBI, up 3.71 percent at Rs.1,703; Tata Power, up 2.8 percent at Rs.1,171.10; and DLF, up 1.8 percent at Rs.358.75.

The biggest loser on the Sensex was TCS, plummeting 50.6 percent to rule at Rs.384.65.

Of the other losers on the Sensex were Sterlite, down 5.06 percent at Rs.629.90; Wipro, down 2.95 percent at Rs.389.90; and Grasim, down 2.12 percent at Rs.2,345.15.

Other Asian markets were in the red, with a key index of the Tokyo stock exchange, Nikkei 225 Stock Average, closing Tuesday at 9,790 points, 249.67 points lower than its previous close.

On the other hand, the Hang Seng, a primary index of the Hong Kong stock exchange, was ruling 555.56 points down at 17,943.4 points.

Weak economic data coupled with a strong dollar pulled US stocks into the red Monday with a key index - the Dow Jones Industrial Average - losing the biggest in a month. The Dow fell 187.13 points to end trade at 8,612.13 points.

The broader Standard and Poor’s 500 Index also dipped 22.49 points to close at 923.72 points, while the technology-heavy Nasdaq slipped 42.42 points to 1,816.38 points.

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