Sensex slips further on weak European cues

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At 13:53 hours IST - the Nifty slid further post European markets' opening. Realty, power, metal, technology, select cement and telecom stocks were witnessing selling pressure. Heavyweights Reliance Industries, SBI and HUL slipped 2.4%, 3% and 1.6%, respectively. On the global front, European markets were down nearly 1.5% each and US index futures declined 0.5% each.

However, Bharti Airtel shot up over 4% and ICICI Bank up over 2%. ITC, ONGC, Sun Pharma, Tata Power, Maruti, PNB, Siemens, Grasim, BPCL and Ranbaxy Labs were other gainers.

The Sensex was down 161 points to 15,734 and the Nifty fell 51 points to 4,661. The broader indices were underperforming the benchmark indices; the BSE Midcap index declined 1.6% and Smallcap Index was down 2.2%. About 269 shares advanced while 992 shares declined on the NSE.

In the realty space, Indiabulls Real, Unitech and DLF slipped 6-7.5%.

In the power pack, Suzlon Energy tumbled over 11% and Reliance Infrastructure declined over 5%. ABB, Neyveli Lignite, NTPC, Lanco Infratech, Torrent Power, NHPC, Power Grid Corp, Reliance Power and Adani Power slipped 1-4.4%. BHEL was down 0.46%.

Metal stocks like Hindalco lost over 6%. Tata Steel, Sesa Goa, Sterlite Industries, Jindal Saw, Jindal Steel and NALCO fell 1-4.4%. SAIL was down 0.58%.

In the technology space, Wipro plunged 4.53%. HCL Tech, TCS, Tech Mahindra and Infosys were down 1-2.3%.

In the telecom pack, Tata Communication tumbled 8.74%. Reliance Communication was down 4.86%. MTNL, Idea Cellular and Tata Teleservices were down 1.6-2.6%.

In the midcap space, Jet Airways, Bajaj Hindusthan, Piramal Health, Bayer Cropscience and Ashok Leyland gained 4.5-5.5% while Indiabulls Financial locked at 20% lower circuit. Dishman Pharma, Anant Raj Industries, Gujarat NRE Coke and Syndicate Bank slipped 9-10.5%.

In the smallcap space, Hawkins Cooker jumped 16.87%. Mukand, Bliss GVS and Savita Oil Tech were up 5.5-8% while Genus Power, Gwalior Chemical, Sanghvi Movers, Godawari Power and Mercator Lines lost 10-18%.

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