Markets slip deeper into red

The markets have slipped deeper into red on the back of unabated selling pressure on rate sensitives stocks. The Sensex is now down 127 points at 19,023. The Nifty declined 41 points to 5702.
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(Updated at 1358 hrs)

The markets have slipped into the red on back of selling pressure witnessed in banking, FMCG, realty and IT stocks. The Sensex has shed 35 points at 19,115, and the Nifty has declined 11 points to 5732.

Hindustan Unilever was the top loser on the Sensex after announcing its Q3 results. It was followed by ICICI Bank, HDFC Bank, JP Associates, Wipro, ONGC, Jindal Steel and Mahindra & Mahindra. While NTPC continued to remain the top gainer, the stock added 2.2% and was at Rs 196. Sterlite Industries, Tata Steel, Hero Honda, Hindalco Industries, Larsen & Toubro and Bharti Airtel were also among the gainers.

Most of the Asian markets ended on a mixed note, the Nikkei ended the day at 10,464 up 119 points, Taiwan closed lower by 20 points at 8991, Shanghai ended at 2677 down 18 points and the Hang Seng was at 23,813 up 11 points.

Back home, the BSE banking index- Bankex was the top sectoral loser, the index shed 158 points at 12,486, FMCG index was lower by 0.9% at 3512. Realty, IT, healthcare and auto stocks also reeled under the selling pressure.

On the other hand Capital Goods index was the top sectoral gainer, up 0.7% or 106 points at 13,775. Consumer durable, power, metal and PSU indices were also trading higher by 0.3% - 0.6% each.

The broader markets were also in the red the BSE mid-cap index was down 13 points at 7238 and the small-cap index was down by a point at 9015.

On the corporate front, Hindustan Unilever announced its third quarter results, the company reported decline in net profit by 1.7% at Rs 637.5 crore.