Sensex slips below 9,000 mark (Lead)

February 18th, 2009 - 1:46 pm ICT by IANS  

SensexMumbai, Feb 18 (IANS) Weak global cues pulled down Indian equities around midday Wednesday, with a key index trading below the psychologically important 9,000-mark after early gains.
The 30-scrip Bombay Stock Exchange (BSE) sensitive index (Sensex), which opened at 8,939.38 points, was at 8,978.65 points, 56.35 points or 0.62 percent down from its previous close.

At the same time, the S&P CNX Nifty index of the National Stock Exchange (NSE) was at 2,765.9 points, 0.17 percent lower than its previous close of 2,770.5.

The BSE midcap index was 0.52 percent lower, while the BSE smallcap index was down 0.64 percent.

Of the 13 sectoral indices on the BSE, only the oil and gas index was in positive territory.

Among gainers on the Sensex at this time were Reliance Industries (up 0.84 percent at Rs.1,278.20), Bharti Airtel (up 0.83 percent at Rs.638), ITC (up 0.58 percent at Rs.181.60) and ONGC (up 0.54 percent at Rs.681.10).

Losing scrips on the Sensex included ICICI Bank (down 5.14 percent at Rs.366.05), HDFC (down 4.36 percent at Rs.1,370), Mahindra and Mahindra (down 2.68 percent at Rs.290.70) and SBI (down 2.49 percent at Rs.1,072.95).

In other Asian markets, a key Japanese index, the Nikkei of the Tokyo Stock Exchange, was ruling at 7,540.35 points, 1.38 percent lower than its previous close.

The Hang Seng, a key index of the Hong Kong Stock Exchange, was 1.56 percent below its last close.

US stocks touched levels close to their November lows as the general optimism that followed the government’s fiscal stimulus package seemed to be waning. The blue-chip Dow Jones Industrial Average shed 297.81 points, or 3.79 percent, to 7,552.6.

The broader Standard and Poor’s 500 Index lost 37.67 points, or 4.56 percent, to close at 789.17 points. The technology-heavy Nasdaq Composite Index also was down closing at 1,470.66, down 63.70 points, or 4.15 percent.

In Europe, the FTSE 100 index of Britain closed 100.62 points down, or by 2.4 percent, at 4,034.13, while Germany’s DAX shed 150.04 points, or 3.4 percent to end trade at 4,216.6.

The CAC-40 index of France fell 86.99 points, or 2.9 percent, to 2,875.23 points.

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