Lacklustre trade continues

The markets slipped furthur down on the back of lacklustre IIP data with the Sensex down 137 points at 19,313 and the Nifty shed 42 points at 5,799. The broader markets too pared its initial gains with both the smallcap and the midcap indices down 0.3% each while the BSE benchmark index slipped 0.6%

On the BSE sectoral chart, FMCG and IT are the only indices trading in the positive. Realty continues to be the top laggard, down 2% followed by Auto and Oil & Gas shedding 1% each.

Oriental Hotels, Acropet and Signet Overseas down 5% each are the top losers among the smallcaps followed by Asian Hotels (West), Ontrack Systems, Karuturi Global and Future Capital shedding 4% each are the other major losers.

Sunteck Realty shedding 13% is the top loser among the midcap stocks.JM Financial, Deccan Chronicle Holdings and KGN Industries losing 5% each followed.

Among the Sensex-30 stocks, ITC up 1% continues to be the top gainer followed by Infosys, Cipla, Tata Power, Bharti Airtel and Sterlite gaining 0.4-0.5%. On the losers side are Jindal Steel, DLF, ONGC, Mahindra & Mahindra, HDFC Bank and HDFC down 2% each.

The market breadth continues to be negative. Of the total 2716 stocks traded on the BSE, 1586 stocks have declined while 1586 have advanced.