Markets back in green after weak opening (Lead)

Mumbai, April 15 (Inditop) Indian equities markets climbed back into the green Wednesday after opening weak, as a key index rebounded to rule about 52.29 points higher than its last closing figure, a little before noon.

Around this time, the Bombay Stock Exchange (BSE) sensitive index (Sensex), which opened at 10,805.14 points, was at 11,019.51 points, 0.48 percent or 52.29 points higher than its previous close Monday.

Similarly, the S&P CNX Nifty of the National Stock Exchange (NSE) was at 3,411.75 points, 0.86 percent up from its last close at 3,382.6 points.

Broader market indices like the BSE midcap and BSE smallcap were doing better, with the BSE midcap index up 3.11 percent, and the BSE smallcap index up 3.72 percent.

Of the 13 sectoral indices on the BSE, the indices for capital goods, consumer goods and realty stocks gained the most.

Among the gainers on the Sensex were Tata Motors, up 9.58 percent at Rs.276.35; Reliance Communications, up 3.79 percent at Rs.227.50; BHEL, up 3.72 percent at Rs.1,582, and Ranbaxy, up 3.43 percent at Rs.194.55.

The losers included Infosys, down 4.19 percent at Rs.1,350.10; Sterlite, down 3.32 percent at Rs.411; TCS, down 2.39 percent at Rs.577.55, and Wipro, down 1.86 percent at Rs.264.

In other Asian markets, a key Japanese index – the Nikkei of the Tokyo Stock Exchange – was in the red close to end of trade Wednesday at 8,759.8 points, about 82.88 points below its last closing figure.

However, the Hang Seng, a key index of the Hong Kong Stock Exchange, was ruling at 15,256.15 points, 2.08 percent lower than its last close.

After a banking rally the day before, US stocks Tuesday slipped by more than 1.5 percent, eroded by US President Barack Obama’s recent remarks on the economy and dropping confidence in the financial sector, analysts said.

The blue-chip Dow Jones Industrial Average was down 137.63 points, or 1.71 percent, to 7,920.18 points.

The broader Standard and Poor’s 500 Index shed 17.23 points, or 2.01 percent, to 841.50, while the technology-heavy Nasdaq Composite Index dropped 27.59 points, or 1.67 percent, to 1,625.72.