Markets extend losses

The markets has slipped further on the back of inflation data which continues to be above the RBI's comfort level of 8%.The Sensex is trading around the day's low thus far at 19,415 down 280 points and the Nifty shed 79 points at 5,832.

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(Updated at 1140 hrs)
The markets continue to trade in the red after a disappointing Infosys projections and results. The BSE benchmark index is down 162 points at 19,534 and the Nifty lost 47 points at 5,863. The broader markets, on the other hand, continue to hold gains. The smallcap index is up 0.3% and the midcap gained 0.2% outperforming the Sensex, down 0.9%

On the IT front, the index is down 5% following the Infosys results and the announcement of Mohandas Pai, a board member and director incharge, human resource department, deciding to resign. This is the second biggest exit of a senior member from the company after Nanadan Nikelani. Apart from Infosys, the other losers in the IT space are Wipro down 4%, HCL Technologies, Core Projects and TCS down nearly 2% each.

Oil & Gas, Power and FMCG down 0.5% - 1% are the other notable sectoral losers. Auto up 0.5%, Capital Goods and Bankex indices adding between 0.1-0.4% are the only sectors in the positive.

Barring the IT scrips, the losers among the Sensex stocks are ONGC, NTPC, Hindustan Unilever and market heavyweight down 1% each.

Hero Honda and L&T up 3% each are the top gainers among the Sensex. Hindalco, Bharti Airtel, Jaiprakash Associates and Tata Motors gaining 1% each are the other gainers.

Of the total 2547 stocks traded on the BSE, 1324 stocks have advanced while 1324 have declined.