Markets slip in late morning deals

Realty shares drag

Markets have slipped into the red in late-morning deals on weakness in realty shares. The Sensex is down 49 points at 17,102. Nifty is down 14 points at 5,187.

Markets may turn volatile ahead of the futures & options expiry later today.

Meanwhile, in Asia, the Nikkei has slipped 0.3% to 9,536. Taiwan Weighted and Shanghai Composite have dropped in trades as well.

BSE realty index is down 0.8% at 1,677. PSU, capital goods and auto shares are also in red. However, consumer durables index is up marginally in trades.

Infosys has added 0.7% to Rs 2,365. Mahindra & Mahindra, Tata Steel and Cipla are up marginally in trades.

Meanwhile, Hero MotoCorp has slumped 2.5% to Rs 2,180. Gail India, DLF and Bajaj Auto are down 1-2% each. Among other losers are HUL, SBI and Sterlite.

Among individual stocks, Yes Bank has dipped 2.5% at Rs 357 on back of huge block deals on the counter on the Bombay Stock Exchange. According to reports, as many as 15 million shares representing 4.25% of the total equity capital have changed hands through block deals at a price of Rs 357 per share.

Nestle India is trading lower by 3.2% at Rs 4,7782 after fast moving consumer goods company has reported a lower-than-expected a 8% year-on-year (y-o-y) rise in net profit at Rs 276 crore for the quarter ended March 2012 due to higher raw material, employees and taxation cost.

Hoever, Asian Paints has touched a new high of Rs 3512 in trades today. Bank of Baroda is up marginally at Rs 764. Both stocks would be included in the Nifty 50 from Friday.