Sensex dips nearly 300 pts on weak European cues

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At 15.02 hrs IST, the Sensex was down close to 300 points. Heavy selling was seen in realty, metal, IT, auto, power and banking stocks. Weak European cues also weighed on the markets; CAC, DAX and FTSE fell 0.8% each.

Greece, Portugal, Spain Sovereign CDS gained sharply. Greece's 5-year Sovereign credit default swap (CDS) was up 17 bps to 414 bps.

All the BSE sectoral indices were trading in the red. The BSE Midcap and Smallcap index were down more than 1%.

The Sensex was up 65.96 points or 0.41% at 16229.40, and the Nifty was down 85.60 points or 1.74% at 4846.25. About 865 shares advanced, 2058 shares declined, and 218 shares were unchanged.
 
In the largecap space, aluminium giant Hindalco was the top loser down more than 6%. Suzlon Energy, Tata Motors, Jaiprakash Associates and DLF were down 3.6-4.5%. On the gaining side, GAIL, BPCL, ITC, ONGC and Hero Honda were trading in green.

Top gainers on the BSE Midcap: Info Edge, KGN Industries, Gujarat Gas, Blue Dart and Procter and Gamble were up 3-6%.

Top losers on the BSE Midcap: Kingfisher Airlines, Polaris, Essar Shipping, Prakash Industries and Sobha Developer were down 5-6%.

Top gainers on the BSE Smallcap: Shristi Infra, Resurgere Mines, PVP Ventures, Ashtavinayak and Sundaram-Clayton were up 6-11%.

Top losers on the BSE Smallcap: INOX Leisure, Dharani Sugars, Sanwaria Agro, Sakthi Sugars and Falcon Tyres were down 7-10%.