Sensex slips 500 points

Sensex slipped above 500 points and was trading below level of 27000.Nifty has posted worst loss since July 8

At 3:09PM, the S&P BSE Sensex is trading at 26,819 down 500 points, while NSE Nifty is trading at 8,087 down 131 points.

The BSE Mid-cap Index and BSE Small-cap Index was trading down at 1%.

IT, Teck indices are the gainers, while Auto, Consumer Durables, Power, banking, Capital goods, FMCG, Oil and gas indices, Healthcare Metal, Realty indices are losers.

Infosys TCS are among the gainers, whereas ITC,  Reliance, Tata Steel,Hindalco, ONGC, ICICI Bank and Bharti Airtel are losing sheen on BSE.

The government will try and move the constitutional amendment Bill to facilitate the levy in the ongoing winter session of Parliament to pave the way for rolling out the single tax from April 1, 2016, says a report. The Centre and the states reached a broad consensus late Monday night on the contours of the goods & services tax (GST), the report added.

The Reserve Bank of India has allowed banks to be flexible in lending to existing projects, in line with cash flows available for debt refinancing. This facility will also be available for non-performing loans.

India's trade deficit widened to US$ 16.86 bn in November. Total imports in November, including oil, rises by 26.79 percent to US$ 42.82 billion.

The Union Finance Minister Arun Jaitley said that the world economy is passing through critical phase while Indian Economy has potential to grow at a higher rate. In this regard he specifically mentioned about unexploited potential of the manufacturing and infrastructure sectors in particular.