Markets trading dull, Sensex slips around noon (Lead)

March 3rd, 2009 - 1:53 pm ICT by IANS  

SensexNew Delhi, March 3 (IANS) Indian equities markets were trading on a dull note late Tuesday morning, with a key index 0.6 percent below its previous close.
The 30-scrip Bombay Stock Exchange (BSE) sensitive index (Sensex), which opened at 8,583.06 points, was at 8,555.12 points shortly before noon, a fall of 51.96 points or 0.6 percent from its previous close.

Similarly, the S&P CNX Nifty of the National Stock Exchange (NSE) lost 0.35 percent from its last close to rule at 2,665.2 points.

The BSE midcap index was 0.76 percent lower, while the BSE smallcap index was down 0.5 percent.

Of the 13 sectoral indices on BSE, the index for auto and oil and gas stocks gained the most.

Among the gainers on the Sensex were Grasim Industries (up 2.58 percent at Rs.1,358.10), Mahindra and Mahindra (up 1.45 percent at Rs.322.50), Reliance (up 1.01 percent at Rs.1,237.50) and Tata Motors (up 0.79 percent at Rs.146.80).

The losers were Tata Power (down 3.4 percent to Rs.687.50), Bharti Airtel (down 3.16 percent at Rs.598), Sun Pharma (down 2.79 percent at Rs.966.50) and ITC (2.18 percent at Rs.174.80).

In other Asian markets, a key Japanese index, the Nikkei of the Tokyo Stock Exchange, closed at 7,229.01, shedding 0.7 percent from its previous close.

The Hang Seng, a key index of the Hong Kong Stock Exchange, was ruling 1.48 percent lower than its last close.

In the US, Wall Street tumbled Monday with the Dow and Standard and Poor’s 500 falling to a 12-year low after insurance giant American International Group reported the biggest quarterly loss in corporate history.

The Dow Jones industrial average Monday lost almost 300 points, or 4.2 percent to end at 6763.29, its lowest point since April 25, 1997.

The S&P 500 index lost 34 points, or 4.7 percent, ending at 700.82, its lowest close since Oct 28, 1996.

The Nasdaq composite lost 55 points, or 4 percent to end at 1322.85. The tech-fuelled Nasdaq has held up better than the other major averages this year and remains above its close of 1316.12 from Nov 20, 2008.

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