Markets slip into red

The markets are trading in a narrow range, the Sensex is down 100 points at 20,587 and Nifty is at 6195 down 35 points.

The European markets have also slipped into the red, french CAC is at 3824 down  three points, FTSE is also down three points at 5744.  The most of the Asian markets ended higher, Nikkei ended at 9583 up 180 points, Taiwan also ended higher by 108 points at 8215 and Hang Seng is up 394 points at 23,852.

Backhome, Tata Steel leads the rally among the Sensex stocks, up nearly 3% at Rs 657  followed by Wipro, Infosys, Tata Motors, Jindal Steel and JP Associates up more than 0.7% each.

However, L&T leads the Sensex losers chart, the stock is trading at Rs 2029 down 2.4% followed by NTPC, Cipla, ICICI Bank and Mahindra & Mahindra down more tha 0.86% each.

The Realty, Metal and IT indices lead the sectoral charts up more than 1.30% each. However, Capital Goods continues to be the top loser among the sectoral indices, down 1.2% or 200 points at 16,227 followed by Power, PSU, Bankex and Oil & Gas indices.

Indiabulls Real Estate is the top gainer among the Realty stocks, down 3.46% at Rs 200 followed by Sobha Developers, Unitech, HDIL and Orbit Corporation up more than 1.2% each.

The broader markets are trading marginally higher. The Mid-cap index is 0.58% or 48 points at 8485 and Small-cap index is higher by 46 poinbts at 10,808.

Market breadth is negative, out of 3040 stocks traded on the BSE 1521 stocks are declining and 1447 stocks are advancing.