Markets slip, but still in green


Mumbai : The Indian equities markets were trading in the green Monday, with a key index ruling about 1.43 percent higher than its previous close around noon after soaring more than 2.7 percent on opening.

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The Bombay Stock Exchange (BSE) sensitive index (Sensex), which opened at 10,521.78 points, was trading at 10,497.09 points – 1.43 percent or 148.26 points higher than its Thursday close of 10,348.83 points.

The S&P CNX Nifty of the National Stock Exchange (NSE) was at 3,252.35 points, 1.29 percent up from its last close of 3,060.35 points.

Gains were seen across sectors with the BSE midcap index ruling 1.5 percent higher than its previous close, while the BSE smallcap index was up 2.14 percent.

Of the 13 sectoral indices on the BSE, those for consumer durables, metals, and banking stocks were in the positive terrain.

The gainers on the 30-composite Sensex around this time were Hindalco, up 6.21 percent at Rs.59.85; Reliance Communications, up 5.74 percent at Rs.207.40; Mahindra and Mahindra, up 5.64 percent at Rs.443.80; and HDFC, up 5.23 percent at Rs.1,665.20.

Among the losers were stocks like Hindustan Unilever, down 2.12 percent at Rs.226; Grasim, down 1.97 percent at Rs.1,570; Ranbaxy, down 1.15 percent at Rs.184.45, and ACC, down one percent at Rs.593.75.

In other Asian markets, Tokyo stocks ended in the green with Japan’s benchmark Nikkei 225 Stock Average closing at 8,857.93 points, 108.89 points higher than its previous close.

The Hang Seng, a key index of the Hong Kong Stock Exchange, was up 3.4 percent at 15,239.69 points.

On Friday, US stocks made gains at the close of a strong week for global markets, buoyed by some positive economic news and a comprehensive deal by world leaders to tackle the global recession at the recently concluded G20 meet in London.

The blue-chip Dow Industrials gained 39.51 points, or 0.5 percent, to 8,017.59.

The broader Standard and Poor’s 500 (S&P 500) Index rose 8.12 points, or 0.97 percent, to 842.50, while the technology-heavy Nasdaq Composite Index was up 19.24 points, or 1.2 percent, to 1,621.87.

The Dow jumped 3.1 percent on the week and the S&P 500 surged 3.3 percent. Both indexes posted their fourth-straight weekly advance and closed at their highest level since Feb 9.