Sensex slips into red

The Sensex has slipped into the negative zone owing to significant amount of profit taking. The index is now down five points at 12,126.

Updated at 1400 hrs

The Sensex moved to a high of 12,272 backed by fresh buying - mainly in heavyweights ONGC and Reliance. The index however has pared some gains and is now up 95 points at 12,226.

Hindalco has soared over 5% to Rs 65. Reliance Communications has soared 4.5% to Rs 248.

ONGC has flared up 3.7% to Rs 918. Reliance has moved up nearly 3% to Rs 1,930.

Ranbaxy, Grasim and SBI have advanced over 2% each to Rs 181, Rs 1,830 and Rs 1,373, respectively.

NTPC, Bharti Airtel, Reliance Infrastructure and Larsen & Toubro have added 2% each to Rs 195, Rs 768, Rs 809 and Rs 998, respectively.

TCS has shed 2.5% at Rs 635. ITC has dropped 2% to Rs 193.

Tata Steel has declined 1.7% to Rs 281. DLF and Mahindra & Mahindra have slipped 1.3% each to Rs 257 and Rs 527, respectively.

Hindustan Unilever, Wiro and HDFC are also down around 1% each.

The market breadth continues to remain firm - out of 2,496 stocks traded so far, 1,681 have advanced and 728 have declined.