By IANS,
Mumbai : Traders seemed to ease the pressure on the selling pedal at the Indian equities markets Friday with a benchmark index paring some of the losses in the afternoon although it continued to rule about 62 points in the red.
Around 1.34 p.m., the 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,253.82 points, was at 16,244.46 points, down 62.41 points or 0.38 percent from its previous close at 16,289.82 points.
It had earlier fallen over 325 points or nearly 2 percent to 15,982.08 points below its previous close, soon after the Reserve Bank of India announced a 75 basis points cut in the cash reserve ratio as fears spread it would result in industry facing a crunch to raise credit.
At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty was at 4,844.65 points against the previous close at 4,867.25 points — a loss of 0.46 percent.
Broader markets were also in the red, with the BSE midcap index down 0.43 percent and the BSE small cap index trading 0.62 percent lower.