Equities open lower, Sensex down 187 points

Mumbai (IANS): Indian equities markets opened marginally lower on Friday and then slid into negative territory on weak global cues with a key index down 187 points some two hours into trading.

Two hours into trading, the 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) was ruling at 9,042.61, down 187.14 points or 2.03 per cent from its previous close on Thursday at 9,229.75 points.

The Sensex opened some 25 points lower at 9,204.69 points, hit a high of 9,340.69 before slipping to its current value.

The broader-based 50-share S&P CNX Nifty of the National Stock Exchange (NSE), also showed a similar trend and was ruling at 2740.50, down 47.5 points or 1.70 per cent from its previous close Thursday at 2788.00 points.

The BSE midcap index was ruling at 2,909.65, down 13.15 points or 0.45 per cent from its previous close Thursday at 2,922.80 points.

The BSE smallcap index was, however, still in the green and was ruling at 3,333.27, up 1.47 points or 0.04 per cent from its previous close Thursday at 3,331.80 points.

Overnight U.S. markets closed in the red with a key index of the New York Stock Exchange finishing 3.21 per cent lower. The Nasdaq index closed 3.14 per cent lower than its previous close Wednesday.

Asian markets were mixed with the Nikkei, key index of the Tokyo Stock Exchange ruling 0.08 per cent lower but the Hang Seng, key index of the Hong Kong Stock Exchange was showing gains of 1.93 per cent.

The underlying sentiment is still very much negative and so despite the surge Thursday, markets are again in a bear grip, analysts said.


SOurce: http://www.hindu.com/thehindu/holnus/006200812051213.htm