Indian markets move down in morning trade (Lead)

March 5th, 2009 - 1:26 pm ICT by IANS  

SensexMumbai, March 5 (IANS) Indian equities were trading in the red late Thursday morning despite US and European markets ending in the green Wednesday. A key index was ruling 1.68 percent below its last closing figure.
The Bombay Stock Exchange (BSE) Sensitive Index (Sensex), which opened at 8,535.03 points, was at 8,304.41 points, 1.68 percent or 142.087 points lower than its previous close.

Similarly, the S&P CNX Nifty of the National Stock Exchange (NSE) was at 2,609.85 points, 1.34 percent below its last close of 2,645.2.

The BSE midcap index was 0.17 percent lower, while the BSE smallcap index was down 0.23 percent.

Of the 13 sectoral indices on BSE, the index for realty and metal stocks gained the most.

Among the gainers on the Sensex were Sterlite, up 2.28 percent at Rs.251; DLF, up 1.69 percent at Rs.150.45; Tata Steel, up 1.21 percent at Rs.158.60, and TCS, up 0.79 percent at Rs.464.70.

The losers were Ranbaxy, down 4.93 percent to Rs.151.20; Hindustan Unilever, down 3.59 percent at Rs.232.25; Tat Power, down 3.17 percent at Rs.652.90; and Jai Prakash Associates, down 3.13 percent at Rs.63.40.

In other Asian markets, a key Japanese index, the Nikkei of the Tokyo Stock Exchange, was up 162.61 points at 7,453.57 points.

The Hang Seng, a key index of the Hong Kong Stock Exchange, was ruling 0.38 percent lower than its last close.

US stocks posted strong gains Wednesday, spurred by a global rally as China prepared to unveil new plans to stimulate its economy.

The blue-chip Dow Jones Industrial Average climbed 149.82 points, or 2.23 percent, to 6,875.84.

The broader Standard and Poor’s 500 Index jumped 16.54 points, or 2.38 percent, to 712.87 after closing below 700 Tuesday for the first time since 1996, while the technology-heavy Nasdaq Composite Index was up 32.73 points, or 2.48 percent, to 1,353.74.

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