Owing to the sudden sell off in the realty and banking space the Sensex slipped into the negative, losing 33 points at 19,511 and the Nifty lost 18 points to trade at 5,849. However, the broader markets continue to remain in the positive. The smallcap index is up 0.3% and the midcap index is flat with a positive bias as compared to the Sensex down 0.3%
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(Updated at 1105 hrs)
After opening on a firm note, the Sensex pared some of its earlier gains to touch an intra-day low of 19,541, down 69 points from the day's opening. However, the BSE benchmark attempted to move back but failed and slipped into the red shortly. The Nifty is down 10 points at 5,858 while the Sensex is flat at 19,536.
The broader markets gained strength in the last hour with the smallcap index up 0.8% and the midcap index added 0.6% outperforming the Sensex, up 0.2%. The IT index pressured by the Wipro results has slipped into the negative, down 0.1% while the Bankex index has pared its gains and is trading flat. Consumer Durables, Auto and Realty indices are leading the gains in the second hour of trading.
In the smallcap space, 350 stocks have advanced while 174 have declined. The movers in this space are Shasun Pharmaceuticals up 18%, Oil Country Tubular, Mahindra Forgings, Chemplast Sanmar and Kirloskar Ferrous industries adding between 7-9%.
Hindusthan National Glass & Industries up 8%, Blue Dart, Raymond, Allcargo Global Logistics and Godfrey Phillips have gained between 5-7% in the midcap space.
Among the Sensex gainers are Mahindra & Mahindra up nearly 2% followed by ONGC, Bharti Airtel, Maruti Suzuki and DLF gaining 1% each.
On the other hand, Wipro continues to be the top loser down 3% post its results.BHEL,SBI, Tata Power, HDFC Bank,L&T and Reliance Infrastructure shedding 0.4-0.7% are the other top losers.
The market breadth is very positive. 1421 stocks have advanced while 1066 have declined.