Markets @ 12.00 PM(PTI)

Shrugging off early gains, the Bombay Stock Exchange benchmark Sensex on

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Wednesday nosedived over 692 points midway to dip well below the psychological 10,000 point level, on heavy selling by funds after reports of Satyam Computer Services Chairman resigning.

The Sensex, which commenced the day higher by 133.79 points, dropped by 692.37 points, or 6.70%, to 9,643.56 at 1245 hrs, as the index-linked Satyam Computer plunged to Rs52.65 from Tuesday’s close of Rs178.95.

Last night Satyam’s ADR was higher by 4% on the Nasdaq

Selling pressure began after reports that Satyam Computer Services Chairman Ramalinga Raju tendered his resignation, ahead of the crucial January 10 Board meeting.

With mounting selling pressure, the 50-share National Stock Exchange’s index Nifty dropped by 201.00 points, or 6.45%, to 2,911.00 at the same time.

Markets @ 10.00 AM(PTI)

The Bombay Stock Exchange stock index shed early gains of 1.3% and slipped into the negative on Wednesday morning as concerns about quarterly earnings drove investors to pare their positions.

At 10:42am, the 30-share BSE index was down 0.18%, or 18.20 points, at 10,317.25, with half of its components losing. The 50-share NSE index was down 0.6% at 3,094.

Maintaining its upward march for the fifth session in a row, the Bombay Stock Exchange benchmark Sensex today advanced further by over 133 points on buying by foreign funds and retail investors, taking cues from firming trends in the global markets.

The Sensex moved up by 133.79 points, or 1.30 per cent at 10,469.72 in early trade with all the sectoral indices trading in positive zone with gains up to 1.87 per cent.

Similarly, the broader National Stock Exchange index Nifty, rose by 34.40 points at 3,147.20 points.

The 30-share barometer climbed nearly 690 points in the last four straight trading sessions in the new year.

Stock brokers said sentiments were largely bullish on a slew of measures announced by the government in its second stimulus package on January 2 followed by cuts in key rates by the Reserve Bank of India last week.

They said reports that foreign funds were major buyers on the Indian bourses during the first three days of the new year also had positive impact.

Metal stocks continued their upward march largely in tandem with firming trend in base metal prices on the London Metal Exchange.

Among metal stocks, steel giant, Tata Steel rose by Rs 7.45, or 3.02 per cent at Rs 254.20, while Sterlite Industries moved up by Rs 18.20, or 5.77 per cent at Rs 333.80.