Another weak opening for Sensex

Posted by on May 6th, 2010 and filed under Business/Economy. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Mumbai, May 6 (IANS) A benchmark index for Indian equities Wednesday was ruling 0.78 percent lower than its previous close, a couple of hours into trade, after having made another weak start.

Global bourses have been in a tizzy with signs emerging that more European economies could be engulfed by the debt crisis triggered in Greece and endanger the economic recovery across the globe.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,080.47 points, was ruling at 16,954.52 points, 133.44 points or 0.78 percent lower than its previous close at 17,137.14 points.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty was ruling at 5,092.45 points, a loss of 0.64 percent from its previous close at 5,124.9 points.

Broader market indices were also in the slump with the BSE midcap index ruling 0.46 percent down and the BSE smallcap index trading 0.18 percent up.

The market breadth was tilted towards the positive with as many as 1,358 scrips advancing compared to 1,187 stocks declining, while 111 remained unchanged.

Metals, auto and capital goods were witnessing selling, while health care scrips were up.

Asian markets were trading in the red too, with fears of the European debt crisis refusing to die down.

Hong Kong’s Hang Seng was trading 1.09 percent lower at 20,106.07 points, while the Chinese Shanghai Composite index was ruling 2.19 percent down at 2,794.58 points.

The Japanese Nikkei, which opened after a long holiday, caught up with the negativity surrounding other bourses and fell 3.3 percent down at 10,693.04 points.

The South Korean Kospi too was down 2.31 percent at 1,679.08 points.

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