Sensex struggling to remain in green, up 53 points (Lead)

June 18th, 2009 - 2:28 pm ICT by IANS  

Sensex Mumbai, June 18 (IANS) Indian equities markets were volatile since opening trade Thursday, with a key index struggling to stay in the green around noon.
Around 12.30 p.m., it was ruling 53 points above its last closing figure, after having dipped more than 187 points in the morning session.

The benchmark index of the Bombay Stock Exchange (BSE), the Sensex, which opened lower at 14,503.05 points was ruling at 14,568.47 points, 45.63 points or 0.31 percent above Wednesday’s close.

Around the same time, the S&P CNX Nifty of the National Stock Exchange (NSE) too managed to make up for its losses to stand at 4,356.05 points, close to its previous closing figure.

However, broader market indices were still ruling in the negative zone, with the BSE midcap index trading 0.68 percent lower and the BSE smallcap index moving down 1.23 percent.

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

However, selling in lesser valued scrips tilted the market breadth towards negative, with 707 stocks advancing compared to 1,612 declining. Sixty-three remained unchanged.

Among gainers on the Sensex at this time were SBI, up 3.77 percent at Rs.1,726.15; TCS, up 3.69 percent at Rs.393; Wipro, up 2.73 percent at Rs.389; and Tata Motors, up 2.61 percent at Rs.332.70.

Among the losers on the Sensex were ACC, down 5.18 percent at Rs.783.70; Tata Steel , down 3.62 percent at Rs.401.90; NTPC, down 2.64 percent at Rs.208.30; and Grasim, down 2.53 percent at Rs.2,258

Other Asian markets were in the red, with a key index of the Tokyo stock exchange, Nikkei 225 Stock Average, closing Thursday at 9,703.72 points, 137.13 points lower than its previous close.

The Hang Seng, a primary index of the Hong Kong stock exchange, was ruling 211.16 points down at 17,873.44 points.

Most US stocks led by bank scrips dropped for a third straight day Wednesday after President Barack Obama unveiled regulatory reforms. However, technology stocks fared well.

The blue-chip Dow Jones Industrial Average slipped 7.49 points or 0.09 percent to 8,497.18 points, while the broader Standard and Poor’s 500 dropped 1.26 points or 0.14 percent to 910.71.

Technology stock gains were led by Texas Instruments and Qualcomm, pushing the technology-heavy Nasdaq Composite Index 11.88 points or 0.66 percent up to 1,808.06 points.

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