Markets slip further; Sensex down 100 pts

The markets continued to trade on a negative note and slipped further in the last one hour of trade, the Sensex had shed 108 points at 18,102 and the S&P CNX Nifty was at 5421 lower by 37 points.

Tata Motors led the losers chart on the Snesex, the stock was trading lower by 4.2% at Rs 1150, Hero Honda also lost 2.4% and was at Rs 1429. DLF, Tata Power, NTPC, Tata Steel, Maruti Suzuki, Mahindra & Mahindra and ICICI Bank were also among the losers. On the other hand Wipro, Sterlite Industries, Jindal Steel, Reliance Industries, Reliance Infrastructure and BHEL were among the gainers.

Most of the sectoral indices were trading in the red barring a few. BSE Auto index was the top sectoral loser, the index was lower by 2% or 186 points at 8531, Realty index shed 1.6% or 33 points at 2019. Banking, PSU, healthcare, power. consumer durables, metal and capitall goods stocks also witnessed some mild selling pressure. Meanwhile IT, Oil & Gas and FMCG indices were trading marginally in th green.

Tata Motors was the top loser among the auto stocks followed by Ashok Leyland, Hero Honda, Mahindra & Mahindra, Maruti Suzuzki, Apollo Tyres, Cummins India, Bharat Forge and  Bajaj AUto were also among the losers. Among the realty stocks Sunteck Realty was the top loser, down nearly 4% to Rs 327 followed by HDIL, D B realty, Orbit Corp, DLF, Godrej Properties and Mahindra Lifespace developers.

Broader markets slipped further in trade, the BSE mid and small-cap indices were trading lower by 0.98% each at 6497 and 8055 respectively.

Nava Bharat Ventures was the top loser among the mid-cap stocks followed by Jai Corp, EIH, Prakash Industries, Coromandel International, Kingfisher Airlines, United Breweries Holdings and Money Matters Financial Services. Among the small-cap stocks Aksh Optifibre, Sahara One, Camlin, Mafatlal Industries and Gati were the top losers.

The market breadth remained negative as 1753 stocks declined while 946 stocks advanced.