Sensex slips 50 pts, Nifty below 8,400 in late morning trade

After initial spurt, key benchmark indices slipped into red during late morning trade dragged mostly by IT, teck, industrials, realty and capital goods sectors.
On the other hand, some buying were observed in FMCG, energy, oil&gas and healthcare stocks.
The Sensex opened higher at 27,378.01 and moved in a range of 27,459.75 and 27,143.07. At 1100 hours, the 30-share pack was quoted lower at 49.54 points, or 0.18 per cent, at 27,197.62.
The NSE 50-share Nifty was also down by 15.90 points, or 0.19 per cent, at 8,391.30 at 1100 hours.
Among the major losers were: TCS 3.71 per cent, Infosys 2.34 per cent, Tata Motors 1.42 per cent and Maruti 1.11 per cent.

However, GAIL rose by 2.56 per cent, ONGC 2.16 per cent, HDFC 1.85 per cent, Axis Bank 1.32 per cent, Lupin 1.11 per cent, Sunpharma 1.06 per cent and Reliance 1.03 per cent.

Foreign portfolio investors (FPIs) sold shares worth a net Rs 12.77 crore yesterday, as per provisional data released by the stock exchanges.
Domestic institutional investors (DIIs) sold shares worth a net Rs 110.08 crore yesterday.
Overseas, Asian shares dipped in their early trade today but appeared to be on course to weekly gains.