Volatility dogs Indian equities markets

March 26th, 2008 - 1:13 pm ICT by admin  

A file-photo of Sensex

Mumbai, March 26 (IANS) Key Indian equities market index Sensex opened weak Wednesday due to poor interest among buyers, despite a record close at 16,217.49 points the day before. The 30-share benchmark sensitive index of the Bombay Stock Exchange, the Sensex, opened with a negative gap of 52.63 points at 16,270.12.

Half an hour into trading, the slide continued and Sensex was trading at 16197.70, nearly 19.79 points below, or 0.12 percent.

The S&P Nifty of the National Stock Exchange opened at 4,878.70 points Wednesday, up 1.20 points from its previous close.

However, the madcap and small indices performed better than Sensex and were in the green at 1.32 and 1.61 respectively.

Among sectoral indices, IT, banking scrips were not popular though realty and metals and public sector units scrips were in demand.

The market breadth was positive but with low trading volumes. In the initial trade, 1,327 scrips advanced, 724 declined and 56 remained unchanged.

Other Asian markets emanated mixed signals with Taiwan’s Taiwan Weighted trading in negative after opening at 8,776.19, losing 74.51 points and Japan’s Nikkei opening at 12,648.97, dipping by 109.97 points.

In the Indian markets, Tata Steel, Hindalco, State Bank of India and ONGC were the gainers at initial trade, while ICICI Bank, Infosys, Bharti Airtel and HDFC Bank were among the losers.

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