By IANS,
Mumbai : Indian equities markets were under selling pressure with a key index ruling 221 points in the red around Tuesday noon.
Around 11.45 a.m., the benchmark index of the Bombay Stock Exchange (BSE), the Sensex, which opened lower at 14,147.87 points, was ruling at 14,104.76 points, 221.46 points or 1.55 percent below Monday’s closing figure.
Around the same time, the S&P CNX Nifty of the National Stock Exchange (NSE) too was ruling in the red, 1.24 percent down at 4,182.85 points.
Companies with lower market capitalisation came under greater selling pressure, with the BSE midcap index trading 2.11 percent lower and the BSE smallcap index moving down 2.45 percent.
All but one of the 13 sectoral indices on the BSE were ruling in the red. The index for energy stocks was the sole gainer, while those for realty and metal stocks led the losing list.
The market breadth was deeply negative with 485 stocks advancing compared to 1,642 declining. Fifty-three remained unchanged.
Among gainers on the Sensex at this time were NTPC, up 1.2 percent at Rs.193.30; RIL, up 1 percent at Rs.1,972; ONGC, up 0.85 percent at Rs.1,002.15; and Grasim, up 0.64 percent at Rs.2,154.
Twenty-four of the Sensex stocks were losing at this time including Hindalco, down 5.75 percent at Rs.79.50; Sterlite, down 5.72 percent at Rs.560; ICICI Bank, down 4.69 percent at Rs.692.80; and Jaiprakash Associates, down 4.61 percent at Rs.191.50.
Other Asian markets were also in the red, with the Nikkei 225 Stock Average, a key index of the Tokyo stock exchange, slipping 276.66 points to end Tuesday’s trade at 9,549.61 points.
The Hang Seng, a primary index of the Hong Kong stock exchange, was ruling at 17,489.25 points, down 570.3 points.
In what was one of the worst single day loss in two months, US stocks closed in the red Monday, as the concerns over the health of the economy drove investors to sell.
The Dow Jones industrial average dropped 200.72 points or 2.35 percent to end at 8,339.01, while the Standard and Poor’s 500 Index was down 28.19 points or 3.06 percent at 893.04.
The technology scrip-heavy Nasdaq Composite Index fared no better and fell 61.28 points or 3.35 percent to 1,766.19.