By IANS
Mumbai : Weak global cues following poor data on employment at US and continued woes on sub-prime concern kept world markets on their toes and dragged Indian stocks down Friday morning.
The 30-share index of the Bombay Stock Exchange (BSE) opened at 19,579.61, 0.61 percent lower than Thursday’s close. Then it kept going down to 19,434.23 before recovering marginally to 19,491.86 by around 11 a.m.. That was 208.96 points below Thursday’s close.
Reliance group continued topping the top five turnover scrips with Reliance Industries (Rs.390 million), Reliance Energy (Rs.210 million), Reliance Petroleum (Rs.170 million), followed by Jaiprakash Associates (Rs.150 million) and Reliance Communication (Rs.12 million).
Top five gainers included Jay Ushin quoting at Rs.110.00 (up 17.40 percent), Kanpur Plast at Rs.34.20 (up 16.13 percent), Ras Resort at Rs.52.25 (up 13.10 percent), Hydro S&S at Rs.68.00 (up 12.03 percent) and Today’s Writing at Rs.100.00 (up 10.62 percent).
Mid-cap and small-cap benchmarks too were down due to selling across the board. The mid-cap index was trading at 9,269.60, down 0.75 percent from Thursday’s close, around 11 a.m. Friday. The small-cap index was trading at 12,599.88, down 1.1 percent.
The S&P CNX Index Nifty of the National Stock Exchange followed the BSE and opened flat at 5,907.75. After fluctuating between 5,908.75 and 5,827.75, Nifty was trading at 5,858.75 around 11 a.m., 0.92 percent below Thursday’s close.
The much-talked-about initial public offering (IPO) of Reliance Power closes Friday evening. It has already been over-subscribed 24.3 times.