Markets back in the green after quiet start


Mumbai : Healthy buying in a lot of sectors saw Indian markets climb back into the green after a weak start Wednesday, with a key index ruling 0.99 percent above its previous close a little before noon.

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The Bombay Stock Exchange (BSE) Sensitive Index (Sensex), which opened at 9,442.3 points, lower than its 9,471.04-point close Tuesday, was at 9,564.77 points, 0.99 percent or 93.73 points higher than its previous close.

Similarly, the S&P CNX Nifty of the National Stock Exchange (NSE) was at 2,959 points, 0.69 percent up from its last close of 2,938.7.

Among broader market indices, the BSE midcap index was 0.21 percent higher than its previous close, while the BSE smallcap index was also up 0.14 percent.

Of the 13 sectoral indices on the BSE, the indices for realty and oil and gas stocks gained the most.

Gainers on the 30-composite Sensex included Reliance Industries, up 2.71 percent at Rs.1,491; Tata Power, up 2.6 percent at Rs.709; Jaiprakash Associates, up 2.48 percent at Rs.80.50, and ITC, up 2.31 percent at Rs.179.20.

Among losers around this time were ONGC, down 3.27 percent at Rs.754; Mahindra and Mahindra, down 2.74 percent at Rs.363.40; Tata Motors, down 2.65 percent at Rs.157.75, and NTPC, down 2.5 percent at Rs.177.45.

In other Asian markets, Tokyo stocks were in the red towards closing Wednesday. Japan’s benchmark Nikkei 225 Stock Average was at 8,439.03 points, 49.27 points lower than its previous close.

The Hang Seng, a key index of the Hong Kong Stock Exchange, was ruling 0.53 percent or 73.25 points below its last close and was at 13,837.09 points.

US stocks fell sharply Tuesday, one day after posting their biggest gains of the year, as the US administration sought new powers to control failing financial firms.

The blue-chip Dow Jones Industrial Average dropped 115.65 points, or 1.5 percent, to 7,660.21, after surging nearly 500 points on Monday.

The broader Standard and Poor’s 500 Index was down 16.88 points, or 2.1 percent, to 806.04, while the technology-heavy Nasdaq Composite Index fell 39.29 points, or 2.5 percent, to close at 1,516.48.