Sensex slips over 100pts

The Sensex has slipped further down and is at 17,127, down 123 points.

The NSE Nifty is at 5,084, down 34 points.
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(Updated at 1229hrs)

The Sensex has been unable to rebound into the positive zone and is now trading quite flat. The index is now down 19 poinst at 17,212.

The Nifty is down eight poinst at 5,100.

Sun Pharma and ITC have shed 3% each at Rs 1,362 and Rs 250, respectively. Hindustan Unilever has dropped over 2%.

IT stock - Infosys is down 2% at Rs 2,207. TCS and Wipro are down 1.5% each at Rs 582 and Rs 574.

Bharti Airtel and Grasim have also declined in noon trades.

Meanwhile, Tata Power and NTPC ahve gained 2.5% each at Rs 1,378 and Rs 219, respectively.

BHEL, Jaiprakash Associates, DLF, Tata Steel, Sterlite, BHEL and Reliance have managed to hold on to gains and are up over 1% each.

The market breadth is positive. Out of 2,610 stocks traded 1,453 have davnaced while 1,065 have declined.