labels: stock markets - india, markets - general

19 Oct 01.10 PM: Sensex slips further; below 12800 news
19 October 2006

Indices have slipped further on profit booking in select frontline stocks which had seen strong rallies in recent weeks. Asian markets remain mixed while Europe has opened lower.

Sensex is trading lower by 97 points at 12762 at 01.10 PM.

Nifty is now trading lower by 23 points at 3688.

Bajaj Auto has slipped further and remains the worst performer among large caps. The stock is now down nearly 3.5 per cent.

Frontline tech stocks have also corrected further, led by Satyam, which is down more than 2.5 per cent. Wipro has lost over 1.5 per cent

Telecom stocks have also moved further downwards, led by Reliance Communications, which has lost close to 3 per cent. VSNL is down nearly 2.5 per cent.

OBC is a major loser in early afternoon trades and has lost almost 3 per cent. HDFC remains weak by more than 1.5 per cent.

Among engineering stocks, Siemens is down nearly 2.5 per cent and L&T has lost over 1.5 per cent.

Dabur is holding on to gains of close to 3.5 per cent and remains the best performer among index stocks.

Oil marketing stocks have come off their highs. BPCL is now trading 1.5 per cent while HPCL is up over a per cent.

Suzlon is holding on to gains of over a per cent. ABB has also gained nearly a per cent.

Grasim has added over a per cent after yesterday's correction, despite impressive results.

Jet Airways, SAIL, Cipla and Hero Honda are the other gainers.

Mid-caps and small caps have also given up all their early gains. The NSE mid-cap index is now trading 0.65 per cent lower. BSE mid-cap index is trading marginally lower and the small-cap index is holding on to gains of over 0.05 per cent.

Tech Mahindra, which announced excellent quarterly results, is holding on to gains of nearly 12 per cent.

Select other mid-cap tech stocks are also finding very good interest. Geodesic, Paradyne and Foursoft are the major gainers.

Godavari Fertilisers and KRBL remain locked in the 10 per cent upper circuits.

Celebrity Fashions, Exide Industries and Simplex Infrastructure are among the major mid-cap gainers.

Fiem Industries, which got listed on the exchanges today, has slipped further. The stock is currently trading at Rs128, a decline of 6.5 per cent from the issue price.

Ramkrishna Forge, Softpro, Quintegra, Emkay Share, Deepak Fertilisers and NDTV are the major mid-cap losers.

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19 Oct 01.10 PM: Sensex slips further; below 12800