Indian markets keep falling (Lead)January 15th, 2009 - 1:47 pm ICT by IANS
Mumbai, Jan 15 (IANS) Indian equities markets, which opened weak Thursday, continued to fall. Just before noon, a key index jad lost 4.31 points from Wednesday’s close.The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) was down 404.06 points or 4.31 percent and was trading at 8,966.43 points.
The Sensex opened at 9,098.08 Thursday, lower than its previous close of 9,370.49.
Around the same time, the broader S&P CNX Nifty index of the National Stock Exchange (NSE) also slipped into the red and was trading at 2,719.7, 4.08 percent lower.
The BSE’s midcap index was 2.23 percent lower and the smallcap index shed 2.32 percent.
All the 13 sectoral indices on the BSE were trading in the negative territory with the BSE banking index losing the most, 6.26 percent lower than its previous close.
All 30 stocks that make up the Sensex were trading lower. Major losers on the Sensex were ICICI Bank, Jaiprakash Associates and Wipro.
Satyam’s stock tumbled over 25 percent after one of its directors dashed hopes of a government bailout package for the scam-tainted IT firm. The scrip was around Rs.22 just before noon, compared to its previous close of Rs.29.95.
Other Asian markets were also hit with the Nikkei, a key index of the Tokyo Stock Exchange, losing 4.75 percent. The Hang Seng, a key index of the Hong Kong Stock Exchange, shed 5.38 percent over than its last close.
The Nikkei’s fall was attributed to weak Us markets which plummeted overnight. The Nasdaq fell 3.67 percent while the Dow Jones closed 2.94 percent.