Equity markets start in the red

August 22nd, 2008 - 11:56 am ICT by IANS  

Mumbai, Aug 22 (IANS) Indian equity markets, which opened marginally lower Friday following weak Asian cues, were in the red in initial trade. Power, capital goods and realty stocks were under selling pressure.The 30-share benchmark index of the Bombay Stock Exchange (BSE), the Sensex, opened with a loss of 90.34 points at 14,153.39. Five minutes into trading, it was at 14,172.40 points, 71.33 points or 0.50 percent below its closing figure Thursday.

At the same time the S&P CNX Nifty index of the National Stock Exchange was trading at 4,274.10 with a loss of 9.75 points or 0.23 percent from its previous close.

The market breadth was negative. On BSE, 345 shares advanced, 645 declined and 27 remained unchanged.

Sterlite Industries, Hindalco and Tata Steel were among the gainers while BHEL, Jaiprakash Associate and DLF Ltd were among the losers in initial trade.

Other Asian markets were also trading lower.

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