Sensex gives up early gains, slips into red

Calcutta News.Net
Friday 15th July, 2011

A benchmark index for Indian equities markets gave up its morning gains to rule in the red around Friday noon.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,694.19 points, was ruling at 18,562.76 points, down 55.44 points or 0.3 percent from its previous close Thursday at 18,618.2 points.

It had breached the 19,000-mark soon after opening and moved up to 19,619.65 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange was also trading lower at 5,573.9 points, down 0.46 percent.

Broader markets too slipped and were ruling flat. The BSE midcap index was just below its previous close while the BSE smallcap index was up 0.24 percent.

The market breadth was still tilted towards the positive with 1,310 stocks advancing, 1,238 on the decline and 115 remaining unchanged.

Metal and auto stocks were among the top losers, while IT scrips saw some gains after being under selling pressure for the past few days. TCS was among the major gainers at this time.

Among the gainers on the Sensex were TCS, NTPC, SBI, RIL and HDFC Bank, while the losers included Tata Motors, Sterlite Industries, Cipla and Hero Honda.

Asian markets were ruling mixed.

The Nikkei of the Japanese stock exchange closed 0.39 percent up at 9,947.47 points.

The Hang Seng of the Hong Kong stock exchange was ruling 0.55 percent lower at 21,819.23 points, while the Chinese Shanghai composite index was ruling on a flat note at 2,815.2 points.

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