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Sensex slips from early highs

By IANS,

Mumbai : A benchmark index for Indian equities, which opened in the green Friday, slipped a bit as pressure built on some frontline stocks a couple of hours into trade.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,692.66 points, was ruling at 16,773.04 points, 106.64 points or 0.64 percent up from its previous close at 16,666.4 points.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty was ruling at 5,025.85 points, up 0.45 percent from its previous close at 5,003.1 points.

Broader market indices were in the positive terrain as well, with the BSE midcap index ruling 1.14 percent up and the BSE smallcap index 1.16 percent higher.

Among major gainers at this time on the Sensex were Sterlite Industries, Jindal Steel, ITC and M&M, while Maruti Suzuki, ICICI Bank and L&T were on the losing side.

Most benchmark indices in Asian markets were ruling in the green.

Investors got some relief after China allayed fears that it was mulling over withdrawing investments in Europe, saying that Europe remained a key investment destination for the country.

The Japanese Nikkei was ruling 0.9 percent higher at 9,726.19 points, while Hong Kong’s Hang Seng was up 1.77 percent at 19,774.62 points.

The Shanghai Composite Index was, however, ruling flat at 2,654.42 points, down 0.06 percent.