Range bound Indian equities struggle to stay afloat (Lead)

December 22nd, 2008 - 1:20 pm ICT by IANS  

Mumbai, Dec 22 (IANS) With positive cues from their Asian peers, Indian equities opened on a positive note during the penultimate trading week for 2009 beginning Monday, but struggled to remain in the green amid high volatility.The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened the day at 10,102.42 points, against Friday’s close at 10,099.91 points, but immediately dropped to the negative territory at 10,070.56 points.

Soon after, the index rose to 10,161.68 points, only to drop again to 10,059.46 points, an hour into trading. At 11:30 a.m., the index was ruling at 10,094.90 points, with a marginal loss of 5.01 points, or 0.05 percent.

At the National Stock Exchange (NSE), the broader S&P CNX Nifty was ruling with a small gain of 0.07 percent.

Four out of BSE’s 13 sector-specific indices - those for healthcare, oil and gas, fast moving consumer goods and information technology - were ruling in the red, data with the exchange showed.

The realty index led the gainers, up 3.42 percent.

Among the 30 Sensex shares, Tata Motors led the gainers, followed by DLF, Reliance Communications, Satyam Computer and Jaiprakash, while ICICI Bank, Housing Development Finance Corp and NTPC led the losers.

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