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28 Nov 11.10 AM: Sensex slips below 13700 as techs turn weak news
28 November 2006

Weakness across global markets has triggered a correction in the domestic indices in early trades. Markets across Asia are trading weak after the US indices saw one of their worst falls in recent months yesterday.

Sensex opened at 13691 and slipped more than 100 points to touch a low of 13589. The index is trading lower by 93 points at 13681 at 11.10 AM.

Nifty opened at 3966 and saw a low of 3912. The index is now trading lower by 25 points at 3944.

Technology stocks have come under pressure following the sharp decline in the NASDAQ yesterday. Wipro is the worst performer among index stocks, down more than 2.5 per cent

Satyam has lost well over 2 per cent and Infosys is down more than 1.5 per cent. TCS and HCL Tech have lost close to 1.5 per cent each

Oil marketing stocks remain under pressure as crude oil prices have gained further. HPCL is down nearly 2 per cent while BPCL has lost 1.5 per cent

Among banks, PNB has lost over 1.5 per cent while ICICI Bank has slipped close to 1.5 per cent

Tata Power has slipped close to 1.5 per cent after gaining yesterday

After losing 14 per cent in three sessions, Siemens has made a recovery and is up nearly 2 per cent. BHEL has added close to 0.5 per cent

Cement stocks are continuing the rally from yesterday. Grasim has added close to a per cent while Gujarat Ambuja and ACC are trading around 0.5 per cent each higher

Sun Pharma is another major gainer, trading more than 1.5 per cent higher

Bharti is continuing it's up trend from yesterday and has added close to 0.5 per cent

Hero Honda, Gail and ONGC are the other gainers.

Mid-caps and small caps are also under pressure in early trades but losses are not as much as in the large caps. Most of the prominent mid-caps are seeing profit booking while select stocks continue to do very well.

The NSE mid-cap index is now trading with losses of over 0.5 per cent. BSE mid-cap has lost close to 0.4 per cent and the small-cap index is trading with marginal losses of over 0.05 per cent. Market breadth on the NSE is negative in early trades with nearly 2 stocks declining for every advancing stock.

Torrent Power got re-listed today after the reorganisation of various group companies. The stock opened at Rs45 per share on the NSE and is trading at Rs69.5 now

Pearl Polymers, Amar Remedies, Indo-Tech Transformers, Vimta Labs, Godfrey Phillips, Infomedia India, Sadbhav Engineering and Honda Power are among the major mid-cap gainers.

Dwarikesh Sugar, Ruchi Infrastructure, GKW, SPL Industries, Shringar, Oil Country Tubular, Mangalam Drugs and Pidilite are the major mid-cap losers.

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28 Nov 11.10 AM: Sensex slips below 13700 as techs turn weak