Sensex slips into red in early trade (Lead)May 7th, 2008 - 12:44 pm ICT by admin
Mumbai, May 7 (IANS) Indian equities markets opened with a positive gap but slipped into the red early Wednesday due to selling pressure on realty, banking and oil and gas stocks. The 30-share benchmark index of the Bombay Stock Exchange (BSE), the Sensex, opened with a gain of 31.18 points at 17,404.15. But ten minutes into trading, it fell to 17,300.45 points, a loss of 72.56 or 0.42 percent from Tuesday’s closing figure.
At the same time the S&P Nifty of the National Stock Exchange was trading at 5,134.65 points, 10.00 points below its previous close.
The market breadth was negative. On BSE, 641 shares advanced, 652 declined and 28 remained unchanged.
TCS, Satyam and Infosys were among the early gainers while Bharti Airtel, DLF Ltd and ICICI bank were among the losers in initial trade.
Other Asian markets were trading mixed. China’s Shanghai Composite rose 0.61 percent or 22.65 points to 3,756.159. Japan’s Nikkei advanced 0.93 percent or 130.23 points to 14,179.49. Taiwan’s Taiwan Weighted gained 1.07 percent or 94.66 points to 8,952.03.
However, Hong Kong’s Hang Seng was down 0.24 percent or 62.46 points at 26,199.67. Singapore’s Straits Times fell 0.04 percent or 1.33 points to 3,247.42. South Korea’s Seoul Composite declined 0.06 percent or 1.19 points to 1,857.87.