Mumbai: The markets have slipped further as some more selling was witnessed in the banking, metal and power stocks. Frontline counters were trading under pressure. However the smallcap and midcaps were attracting some attention.
Market breadth was positive with over 700 stocks on the advancing side and nearly 350 stocks on the downside. Volume was little lower.
At 1020 hrs IST, the Sensex was down 116.83 points or 0.59 per cent at 19751.28, and the Nifty down 9.05 points or 0.15 per cent at 5926.70. About 1411 shares have advanced, 1513 shares declined, and 55 shares are unchanged.
Top gainers on the Sensex are HUL at Rs 218.55 up 1.67 per cent, ACC at Rs 869.50 up 1.52 per cent and Mah and Mah at Rs 749 up 1.35 per cent. Top losers on the Sensex are ICICI Bank at Rs 1,323.75 down 3.32 per cent, DLF at Rs 1,100 down 2.45 per cent and HDFC Bank at Rs 1,635 down 2.44 per cent
In the motning, the markets opened in green, but drifted down in red within few minutes of opening on the back of heavy selling in the banking, oil and telecom space. At 9:57 am, the Sensex was down 60 points at 19807 and Nifty was down 11 points at 5924. Major gainers in the opening trade were BHEL, RPL, NTPC, Ranbaxy,ACC and Unitech. Bharti Airtel and ICICI Bank were among the losers.
Asian markets were trading firm. Hong Kong's Hang Seng rose 1.64 per cent or 400.48 points at 24,851.33. Japan's Nikkei gained 1.13 per cent or 152.44 points at 13,656.95. South Korea's Seoul Composite was up 0.47 per cent or 7.99 points at 1,712.96. However, Taiwan's Taiwan Weighted declined 0.35 per cent or 28.96 points at 8,150.58
US markets: The Dow Jones industrial average slipped 34.95 points, or 0.28 per cent, to 12,466.16. The Standard & Poor's 500 index declined 7.75 points, or 0.56 per cent, to 1,373.20, and the Nasdaq composite index ended down 23 points, or 0.95 per cent, at 2,394.59.
Market cues:
> FIIs net buy $56 million in equity
> MFs net sell Rs 519.5 cr in equity
> NSE F&O Open Int up by Rs 2,017 crore at Rs 1.32 lakh crore
> Global picture better; US down marginally but Asia recovers
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