Markets slip amid lacklustre trade

The markets have slipped a wee bit amid lacklustre trades. The Sensex is down 88 points at 19,904 and Nifty is at 5,977 down 34 points.

Jaiprakash Associates is the top loser among the Sensex stocks down 5.6% at Rs 106 followed by Reliance Infrastructure, DLF, Reliance Communications, Sterlite Industries and Tata Steel are down more than 3% each. Hero Honda, Hindustan Unilever, Cipla and Wipro are significant gainers on the Sensex.

Meanwhile, the broader markets continue to underperform. The BSE small-cap index has shed more than 2% or 222 points at 9,941 and mid-cap index is at 7,937 lower by 131 points. The BSE 500 advance decline ratio is also extremely bearish as 392 stocks are declinin while 103 stocks are advancing.

Welspun Corp and Ackruti City are the top loser among the mid-caps, the stocks are down on back of the SEBI order which barred the promoters to buy or sell the stock. The stocks are down more than 17% each. Videocon Industries, KS Oil and Parsvanath Developers are also among the losers on the mid-cap index. Among the Small-cap scrips GSS America, Parekh Aluminex, Karuturi Global, Hanung Toys and MSK Projects are among the top losers.

The BSE Realty index is has shed more than 3.5% or 115 points at 2,968 Consumer Durables, BSE Banking index- Bankex and Metal are also in the red, down more than 1.2% each. While the BSE IT index is the top sectoral gainer up 56 points at 6,246 followed by Tech and Auto indices.

Ackruti City is the top loser among the realty stocks down 18% at Rs 314 followed by Parsvanath Developers, Orbit Corp, Anant Raj Industries and HDIL down more than 5% each.

The overall market breadth is extremely negative as 2148 stocks are declining while 698 stocks are advancing.