Indian equities slip after positive opening

August 27th, 2008 - 12:51 pm ICT by IANS  

Mumbai, Aug 27 (IANS) Indian equities slipped into the red Wednesday on account of rising crude prices and developments in the global stock markets despite opening on a positive note.After an hour into trading, the 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) was ruling at 14,429.31 points with a loss of 52.91 points, or 0.37 percent, over the previous day’s close at 14,482.22 points.

The benchmark index had opened on a positive note at 14,563.10 points, up 80.88 points over the previous close, but continued to slip thereafter.

The broader Nifty of the National Stock Exchange was also down 0.30 percent at 4,324.55 points, against the previous close at 4,367.50 points, data available with the stock exchange showed.

Tata Steel, Jaiprakash Associates and Associated Cement Companies were among the major gainers on the BSE, while Bharti Airtel, Bharat Heavy Electricals and Tata Power led the losers.

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