Sensex southbound amid volatility; banks, telecom slip

At 11:51 hours IST - the benchmark Sensex shed around 100 points amid choppy trade, led by sell-off in banking, telecom, capital goods, auto and realty companies' shares. ONGC, Hindalco, Tata Steel and TCS also lost ground.

However, benchmarks were getting support from FMCG, power and select technology companies' shares along with Cairn, Reliance Industries, JSPL, Sterlite Industries, Sun Pharma and Dr Reddy's Labs. According to market analyst Sangeeta Purushottam 2011 will be a little more difficult year than the year gone by. "The first half particularly needs to be navigated properly till such time either where these concerns get priced into the markets or they get dealt with or move away," she said adding, "I don