ManagementMarkets slip after brief recovery
Markets have once again slipped into the negative zone. The Sensex is weak and is now down 68 points at 16,285.
- Sensex rebounds into positive territory - Markets recover from day"s low - Tata Steel down 4% on sharp drop in net - Sensex weak in early trades - Sensex opens 17pts lower - Positive surprises are unlikely
The Nifty is down 18 points at 4,828.
The BSE Bankex has not been able to recover from Tuesday"s blow and is now down 1% at 9,577. The consumer durables and FMCG indices are down arund 1% each.
Maruti and ICICI Bank are the major loser, down 3% each at Rs 1,437 and Rs 811, respectively.
Reliance Communications, HDFC Bank and Sterlite have declined over 2% each at Rs 203 and Rs 1,634 and Rs 760, respectively.
ITC, Hero Honda, ONGC, Tata Steel and BHEL are down 1-2% each.
Bharti Airtel on the other hand has gained 4.5% at Rs 320. Tata Motors and Wipro have advanced 3% at Rs 564. Wipro and Larsen & Toubro are up 2% each.
The market breadth is fairly negative, out of 2,582 shares traded, 1,452 have declined and 1,053 have advanced so far on the BSE.