Sensex slips in noon trade

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A benchmark index for Indian equities, which started on a weak note, slipped further in noon trade on Monday. Heavyweight scrips saw selling after the robust rally last week.

The 30-scrip sensitive index (Sensex) of the BSE, which opened at 16,812.3 points, was ruling at 16,734.88 points, around 12.25 PM., 111.95 points or 0.66 per cent down from its previous close at 16,846.83 points. It had slipped over 155 points in morning trade to an intra-day low of 16,691.21 points. The 50-scrip S&P CNX Nifty of the National Stock Exchange also was trading lower at 5,020.3 points, down 0.59 per cent or 29.85 points from its previous close.

The Sensex and the Nifty had rallied over 7 per cent in the previous week. Broader markets were subdued with the BSE 500 index down 0.41 per cent. The BSE midcap and smallcap indices were ruling flat. Consumer durables, metals and FMCG saw selling, while capital goods scrips gained. The market breadth was mixed, with 1,170 stocks advancing and 1,188 on the decline.

Another 125 were unchanged. Among gainers on the 30-scrip Sensex were BHEL, Maruti Suzuki, DLF and NTPC. Losers included Hindustan Unilever, Tata Steel, ITC, HDFC and ICICI Bank. Asian markets were trading mixed as investors cautiously eyed a series of key meetings between European leaders this week. The Japanese Nikkei was ruling 0.6 per cent up at 8,695.98 points. Hong Kong's Hang Seng was ruling 0.21 per cent up at 19,080.82 points. The Chinese Shanghai composite index was trading 1.04 per cent lower at 2,336.16 points.