Equity markets start in the red

September 1st, 2008 - 12:35 pm ICT by IANS  

Mumbai, Sep 1(IANS) Indian equity markets, which opened lower Monday following weak global cues, were in the red in early trade. Banking, auto and pharma stocks were under selling pressure. The 30-share benchmark index of the Bombay Stock Exchange (BSE), the Sensex, opened with a loss of 151.54 points at 14,412.99. Twenty minutes into trading, it was at 14,456.61 points, 107.92 points or 0.74 percent below its clsoing figure Friday.

At the same time the S&P CNX Nifty index of the National Stock Exchange was trading at 4,335.70 with a loss of 24.30 points or 0.56 percent from its previous close.

The market breadth was negative. On BSE, 867 shares advanced, 947 declined and 73 remained unchanged.

Satyam Computers, Reliance Industries and ACC Ltd were among the gainers while Tata Motors, Ranbaxy Ltd and ICICI Bank were among the losers in initial trade.

Other Asian markets were also trading lower.

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