Trust vote day: equity markets in the green in early tradeJuly 22nd, 2008 - 11:55 am ICT by IANS
Mumbai, July 22 (IANS) Hours before the crucial trust vote in parliament that will decide the fate of India’s ruling United Progressive Alliance , equity markets - often seen as a barometer of investor confidence in the government - opened in the green and stayed there in initial trade. The 30-share benchmark index of the Bombay Stock Exchange (BSE), the Sensex, opened with a gain of 12.40 points at 13,837.64. Ten minutes into trading, it had risen to 13,942.68 points, a gain of 92.64 points or 0.67 percent from its closing figure Monday.
At the same time the S&P CNX Nifty index of the National Stock Exchange was at 4,178.30 points with a gain of 18.80 points or 0.45 percent from its last close.
The market breadth was positive. On BSE 342 shares advanced, 191 declined and 15 remained unchanged.
Tata Motors, BHEL and Reliance Communications were among the top gainers while Maruti Suzuki, Jaiprakash Associates and Hind Unit Ltd were among the top losers in early trade.
Other Asian markets were trading lower.