Markets hold on to meagre gains at midday (Lead)

January 6th, 2009 - 1:57 pm ICT by IANS  

SensexMumbai, Jan 6 (IANS) Indian equities markets were holding on to the small gains of early morning trade at noon Tuesday. A key index was 0.35 percent higher than its previous close.The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) was up 0.35 percent or 35.99 points and was at 10,311.59 points after opening lower than its previous close of 10,275.6 points.

Analysts were of the view that the bull run seems to have lost some of its steam as other Asian and US markets have turned weak.

Metals and banking stocks were still among top performers Tuesday, with the BSE metal index up 2.46 percent over its previous close, while the BSE Bankex, the sectoral index for bank stocks, was up 1.49 percent.

The realty index was the lowest among the 13 sectoral indices on the BSE.

The broader S&P CNX Nifty index of the National Stock Exchange (NSE) followed a similar trend and was trading at 3,130.15 points, 0.28 percent up from its last close.

Other market indices like the BSE midcap index rose 0.88 percent over Monday’s close, while the smallcap index gained 0.98 percent.

Other Asian markets were a mixed bag, with the Nikkei, a key index of the Tokyo Stock Exchange, ending 0.44 percent higher than its previous close, while the Hang Seng, a key index of the Hong Kong Stock Exchange, fell 1.13 percent from its last close.

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