Equity markets go flat (Lead)

December 30th, 2008 - 2:38 pm ICT by IANS  

SensexMumbai, Dec 30 (IANS) Indian equity markets failed to hold on to the smart gains of Tuesday morning, as a key index dropped to hover just about 0.3 percent higher than its previous close, a little before noon.The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) was trading at 9,565.60 points around noon Tuesday, a rise of 32.08 points or 0.34 percent from its previous close of 9,533.52 points.

Analysts called the early morning rise a technical bounce and felt that it didn’t amount to much.

Among top gainers at the Sensex were again Satyam Computer which has been on the rise with speculation that the company is in for a change of management.

The broader S&P CNX Nifty index of the National Stock Exchange (NSE) was also trading marginally higher at 2,924.45 points around noon, about 0.5 points or 0.04 percent higher than Monday’s close.

The BSE midcap index gained 0.89 percent from its previous close while the smallcap index was up 0.72 percent.

Other Asian markets bounced back Tuesday with the Nikkei, a key index of the Tokyo Stock Exchange, 1.28 percent higher than Monday’s close.

The Hang Seng, a key index of the Hong Kong Stock Exchange, also did well, rising 1.09 percent from its previous close.

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