Sensex Sheds More Gains @ 13:15 Hrs

With stocks from metal, realty, power, oil and capital goods stocks plunging sharply, the market has come way down from its morning levels now. Select bank, IT and FMCG stocks remain fairly well placed in the positive territory.

At 15,103.18, the Sensex is up 108.35 points or 0.72% over its previous closing mark. The barometer had spurted to 15,338.23 in early trade this morning after opening with a positive gap of nearly 100 points at 15,093.77.

The Nifty, which rose to a high of 4649.45 this morning, has slipped to 4558.75, netting a loss of 15.20 points or 0.33%.

Mid and smallcap stocks continue to trade weak. The market breadth remains very weak with declines outscoring advances by a very big margin. Out of a total of 2598 stocks seen in action on BSE, as many as 2155 stocks are down in the red at present. 391 stocks hold on in the positive territory and 52 stocks trade flat.

Reliance Energy has plunged 7.3% from its previous closing price to Rs 1118. Tata Steel has lost 5.2% at Rs 604. Jaiprakash Associates is down with a sharp loss of 3.9%.

BHEL, DLF and Reliance Industries are down by 2.6%, 2.1% and 1.25% at Rs 1800, Rs 609.75 and Rs 2132 respectively. Ranbaxy Laboratories, Hindalco, Reliance Communications and Cipla are also down with sharp losses. Grasim Industries is down marginally from its previous closing price.

Besides Reliance Energy and BHEL, Areva (down 10.5%), CESC (down 7.7%), Torrent Power (down 5.55%), Siemens (down 3.1%) and GVK Power (down 2.85%) are the other big losers in the power sector.

Reliance Power, ABB, Suzlon Energy and Crompton Greaves have lost 2% - 2.5%. Power Grid is down with a loss of 1.1%. GMR Infrastructure, Tata Power and NTPC also trade weak, albeit with small losses.