Markets turn sluggish after overnight recovery

After a brief rally on Monday, the stock markets turned sluggish today with the benchmark Sensex losing 206 points in morning trade in line with weakness in other Asian stock markets.

 

The 30-share index, Sensex, came under pressure after a better start and was quoted at 15,551.46 , down 205.62 points from its previous close of 15,757.08. The broader 50-share S&P Nifty of the National Stock Exchange also fell by 40.65 points to 4,720.55 from its last close of 4,761.20.

 

Brokers said, "Investors awaited announcements of fourth quarter results for a possible direction for the market." In the initial trade, BHEL, HDFC Bank, Reliance Communications and Satyam Computeres were among the initial gainers while L&T, Grasim Industries, Bharti Airtel and Wipro Ltd were among the top laggards. Asian markets were trading lower during morning trading today after Wall Street showed steady trend on Monday.(PTI)

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