Equity markets start in the red once moreSeptember 11th, 2008 - 12:26 pm ICT by IANS
Mumbai, Sep 11 (IANS) Indian equity markets, which opened lower Thursday following weak cues from other Asian markets, were in the red in early trade. Metal, banking, pharma and capital goods stocks were under selling pressure. The 30-share benchmark index of the Bombay Stock Exchange (BSE), the Sensex, opened with a loss of 105.28 points at 14,557.33. Twenty minutes into trading, it was at 14,486.77 points, 175.84 points or 1.20 percent below its closing figure Wednesday.
At the same time the S&P CNX Nifty index of the National Stock Exchange was trading at 4,350.10 with a loss of 50.15 points or 1.14 percent from its previous close.
The market breadth was negative. On BSE, 748 shares advanced, 891 declined and 67 remained unchanged.
Ranbaxy and Sterlite were among the gainers while Reliance Industries, ONGC and Mahindra and Mahindra were among the losers in initial trade.
Other Asian markets were also trading lower.