Sensex pares early losses
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A benchmark index for Indian equities markets on Wednesday pared early losses, but broader markets were still in the red. The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,723.99 points, was ruling at 17,786.2 points, up 10.5 points or 0.06 percent from its previous close at 17,775.7 points.
The 50-scrip S&P CNX Nifty of the National Stock Exchange was trading 0.03 per cent higher at 5,314.3 points. Broader markets saw heavier selling, with the BSE midcap index down 1.54 per cent and the BSE small cap index trading 1.77 per cent lower. Realty, power and metal stocks were in the red, while energy scrips moved up. The market breadth was negative, with 639 stocks advancing compared to 2,006 scrips on the decline.
A total of 81 stocks remained unchanged. The major gainers on the sensex were HDFC, M&M, RIL and ICICI Bank. The losers included Hindalco, Jaiprakash Associates, Bhel and Bajaj Auto. Other Asian markets were in the red as well with traders fearing that China's latest interest rate hike could derail economic growth.
The Japanese Nikkei shed 0.17 per cent to close at 10,617.83 points, while Hong Kong's Hang Seng was trading 0.64 percent up at 23,333.64 points. A benchmark of Chinese markets, Shanghai Composite index, which reopened after a long holiday, was ruling 0.98 per cent lower at 2,771.41 points.
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