Sensex slips into red, down 29pts

The Sensex has erased all its gains and now slipped into red. The index is now down 29 points at 17,262.

Reliance Energy has zoomed over 8% to Rs 1,304 on the back of the news of Reliance Power IPO.

Cipla has soared nearly 2% to Rs 186. ONGC and Mahindra & Mahindra have surged around 1.5% each to Rs 974 and Rs 763, respectively.

BHEL, ITC and Hindustan Unilever are the other prominent gainers.

ICICI Bank has slipped 1.3% to Rs 1,049. HDFC Bank is down nearly 1% at Rs 1,426.