Nifty slips below 5100; banks, oil & gas, metals decline

ALSO READ See Key Market Stats - Top Gainers/ Losers, Most Actives, Highs/Lows See how Global Markets are trading Indian ADRs Nifty BSE | NSE 10/02/12 Are Mutual Funds betting on Nifty?

The Sensex slipped further amid volatility on the back of profit booking in oil & gas exploration, banking, metal, power, FMCG, capital goods and select cement stocks. The Nifty was trading below the 5,100 mark while the Sensex remained above the 17,000 level. However, buying in auto, realty and select telecom stocks capped the losses to some extent.

On the global front, Asian markets were trading lower. Shanghai slipped over 3% and Nikkei was down over 1%. Hang Seng, Jakarta, Straits Times and Kospi fell 0.2-0.8% while Taiwan gained 0.4%.

In the largecap space, auto stocks were holding the Sensex. Four wheelers leader Maruti Suzuki was the top gainer with more than 3% gain. Auto stocks like Mahindra & Mahindra, Hero Honda, Tata Motors were up 2% each. Bharti Airtel, which was down more than 3% yesterday, saw some buying interest in today's trade. On the losing side, Reliance Infra was down more than 2%. Banking & Financial stocks were reeling under pressure.  HDFC, HDFC Bank & ICICI Bank were down more than 1%.

BHEL bagged order worth Rs 5,600 crore from UP power plant. The stock was trading flat.

Sources told CNBC-TV18 that Infosys is in talks to acquire Ciber Novasoft. The deal value is likely to be between USD 200-300 million. Infosys was trading marginally in the red.

Top gainers on the BSE Midcap: Gujarat Flourochem, Videocon Industries, Peninsula Land, Max India and Bajaj Hindusthan were up 5-10%.

Top losers on the BSE Midcap: KGN Industries, GMDC, Asian Star, Exide Industries and SKF India were down 3-5%.

Top gainers on the BSE Smallcap: Grindwell Norton, Esab India, Tata Coffee, Geometric & Jyothy Labs were up 8-20%.

Top losers on the BSE Smallcap: HBL Power, SpiceJet, Cambridge Solution, Tata Sponge Iron & Lloyds Metals were down 4-5%.