Sensex on downslide in early trade (Lead)May 12th, 2008 - 12:30 pm ICT by admin
Mumbai, May 12 (IANS) The Indian equities markets that opened in the red Monday went on a further downslide in early trade, with selling pressure on realty, metals, consumer durables and oil and gas sectors. The 30-share benchmark index of the Bombay Stock Exchange (BSE), the Sensex, opened with a loss of 97.62 points at 16,641.45. Fifteen minutes into trading, it had dropped steeply to 16,571.83 points, a loss of 165.24 points or 0.99 percent from Friday’s close.
All major sectoral indices barring IT were in the negative zone.
At the same time the S&P Nifty index of the National Stock Exchange was trading at 4,925.85 with a loss of 55.15 points or 1.14 percent.
The market breadth was negative. On BSE, 347 shares advanced, 1,583 declined and 22 remained unchanged.
Satyam, TCS, Infosys and Wipro were among the few early gainers while Jaiprakash Associates, Reliance Infrastructrue, ACC and Hindalco were prominent among the losers in initial trade.
All other Asian markets except the one in Tokyo slumped as well.