The markets have been languishing in the red this afternoon due to the lingering concerns on the inflation and interest rate fronts. The surge in crude oil prices, deteriorating situation in Egypt and the impending weekend seem to adding to the frayed nerves. The Sensex is quoting at 18149, lower by 299 points and the Nifty is at 5436, down 90 points. The midcap index is at 6755, lower by 52 points and the smallcap index is at 8397, down 66 points.
M&M has weakened by 3.8% to emerge as the top loser on the BSE. Tata Power has shed 3.6% at Rs 1183 and Reliance Infra has lost 2.8% at Rs 684. NTPC, ITC and TCS are the other significant losers. And index heavyweight RIL has slid by 1% at Rs 925.
The stocks to buck the weak trend include Bajaj Auto (stronger by 2.1% at Rs 1237), Tata Steel (lower by 0.9% at Rs 643) and Tata Motors
