Markets lose more ground around midday (Lead)February 17th, 2009 - 1:21 pm ICT by IANS
Mumbai, Feb 17 (IANS) Indian equities markets continued their downward movement Tuesday morning on dismal cues from global markets, and around noon a key index was ruling 2.09 percent below its previous close.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) was at 9,111.39 points at this time, 2.09 percent or 194.06 points lower than Monday’s close. It had opened at 9,213.4 points, lower than its last close of 9,305.45 points.
The S&P CNX Nifty index of the National Stock Exchange (NSE) was at 2,789.95 points, 2.06 percent lower than its previous close of 2,848.5.
The BSE midcap index was 1.84 percent lower, while the BSE smallcap index was down 1.69 percent.
All the 13 sectoral indices on the BSE turned negative with the one for realty stocks losing the most.
There were only two gainers on the Sensex at this time - Ranbaxy Laboratories (up 1.17 percent at Rs.207.45) and ITC (up 0.14 percent at Rs.180.65).
Among losing scrips on the Sensex were DLF (down 6.51 percent at Rs.145.80), Mahindra and Mahindra (down 5.04 percent at Rs.298.60), Tata Steel (down 3.86 percent at Rs.176.95) and ICICI bank (down 3.57 percent at Rs.394.60).
In other Asian markets, a key Japanese index, the Nikkei of the Tokyo Stock Exchange, was ruling at 7,634.09 points, 1.5 percent lower than its previous close.
The Hang Seng, a key index of the Hong Kong Stock Exchange, was 2.95 percent below its last close.
In the US, the blue-chip Dow Jones Industrial Average shed 82.35 points, or 1.04 percent, to 7,850.41.
The broader Standard and Poor’s 500 Index lost 8.35 points, or 1 percent, to close at 826.84 points. The technology-heavy Nasdaq Composite Index also was down closing at 1,534.36, down 7.35 points, or 0.48 percent.