Markets slipped in the noon deals as selling pressure intensified in counters like ICICI Bank, L&T and Reliance Industries. At 12:30, the Sensex was down 97 points at 18,806 and the Nifty slipped 36 points at 5,743.
Broader markets however, continue to outperform the BSE benchmark index with the midcap and smallcap indices down 0.2% each as compared to Sensex down 0.5%.
Asian shares extended losses on Thursday as investors worried about the fiscal crisis in the United States and the European economy's further deterioration, underpinning the safe-haven dollar and yen as well as U.S. Treasuries on safety bids. Hang Seng, Nikkei, Kospi Composite and Straits Times down 1-2% were the top losers.
Back home, among the sectoral indices, Auto and FMCG were the only indices in the green, up 0.9% and 0.1% respectively. Capital Goods, Power, Bankex, Oil & Gas and Realty down 1-1.5% were the major sectoral losers.
Tata Motors, country's biggest car maker by revenue jumped 4%, on higher sales of JLR. Bharti Airtel and Sun Pharma up 1% were the top gainers among the Sensex-30.Wipro,Coal India and Mahindra & Mahindra up 0.2%-0.7% were the only other gainers.
Among the losers were Gail India, L&T, Tata Power and ICICI Bank down 2% each.
Reliance Industries, the company with second-highest weightage on Sensex fell 1%. The central information commission, the apex body under the Right to Information Act, 2005 has directed the Securities and Exchange Board of India to share the details of several entities that were involved in the Reliance Petroleum Insider trading case in 2007. The commission also directed the market regulator to give the details of file notings on the consent order.
In individual stocks, Ipca Laboratories has tanked 13% to Rs 401 after the company said that it has noticed a few non-conformances at the Indore manufacturing unit during the course of the internal quality assurance review.
DB Corp is trading lower by 1.4% at Rs 214, falling almost 5% from intra-day high, after the company said that its promoters are planning to offload their 8% stake in the company through Offer For Sale (OFS) route.
Biocon has rallied around 6% to Rs 304, extending its over 10% rally after the financial services unit General Electric Company; GE Capital has acquired nearly 8% in the company’s subsidiary Syngene.
The market breadth was negative. 1442 stocks declined while 1054 stocks advanced on the BSE.
