The markets have slipped into the red in noon trades. The Sensex is quoting at 16831, weaker by eight points and the Nifty is at 5066, down seven points.
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(Updated at 1307hrs)
The markets are in a comfortable state this afternoon. The Sensex is quoting at 16913, stronger by 71 points and the Nifty is at 5091, up 18 points. There is underperformance on the broader market front, though; the midcap index is at 6475, lower by 38 points and the smallcap index is at 7596, down 24 points.
The markets had snapped their two-day losing streak this morning on the back of strength on the Asian front. While the Asian markets are trading mixed and the European markets are having a soft session, the bourses back have have managed to hold on to their gains, sans any hiccups. The marginal decline in inflation is also a plus factor. The wholesale price index (WPI) rose an annual 9.22% in July, government data showed as against an annual rise of 9.44% in June.
Bharti Airtel has raced ahead by 2.5% at Rs 399 to emerge as the leading gainer on the Sensex. BHEL has strengthened by 2.2% at Rs 1766 and Sterlite has gained 1.5% at Rs 135. TCS, SBI and Coal India are the other leading gainers.
On the other hand, DLF has weakened by 1.7% at Rs 197, HDFC has lost 1.6% at Rs 659 and Tatas Steel has lost 1% at Rs 471.
The market breadth is negative. Out of 2689 stocks traded on the BSE, there are 1156 advancing stocks as against 1414 declines.
