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Markets go flat by noon

business Updated: Mar 12, 2009 13:54 IST
PTI
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Trading in Indian equities turned flat by noon Thursday after a surge in the morning, despite a fall in inflation and a lower-than-expected fall in industrial production in January.

The Bombay Stock Exchange (BSE) Sensitive Index (Sensex), which opened at 8,274.78 points, was at 8,319.9 points around noon, 1.95 per cent or 159.5 points higher than its previous close.

Similarly, the S&P CNX Nifty index of the National Stock Exchange (NSE) was at 2,613.3 points, 1.56 per cent up from its last close of 2,573.15.

The BSE midcap index was 0.43 per cent higher than its previous close, while the BSE smallcap index was up 0.51 per cent.

Of the 13 sectoral indices on the BSE, only one - the index for consumer durables stocks - was in the negative.

Among the gainers on the Sensex were ICICI Bank, up 5.42 per cent at Rs.277.20; Hindustan Unilever, up 5.15 per cent at Rs.227.65; Sterlite, up 4.54 per cent at Rs.255.55; and ITC, up 3.79 per cent at Rs.164.20.

The losers were Bharti Airtel, down 4.71 per cent at Rs.560.05; Tata Power, down 2.06 per cent at Rs.609.95; NTPC, down 0.4 per cent at Rs.175.80; and HDFC, down 0.23 per cent at Rs.797.

In other Asian markets, Tokyo stocks closed lower Wednesday. Japan's benchmark Nikkei 225 Stock Average soared 283.18 points, or 4.01 per cent, to 7,338.16 in the morning but closed much lower at 7,198.25 points, shedding 177.87 points from its previous close.

The Hang Seng, a key index of the Hong Kong Stock Exchange was ruling 0.17 per cent below its last close at 11,910.18 points.

US stocks had closed in the green with the blue-chip Dow Jones Industrial Average inching up 3.91 points, or 0.06 per cent, to 6,930.4 points.

The broader Standard and Poor's 500 Index rose 1.76 points, or 0.24 per cent, to 721.36. The technology-heavy Nasdaq Composite Index gained 13.36 points, or 0.98 per cent, to 1,371.64.

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