Sensex, Nifty slip further

The market recovered most of its early losses in the early noon deals, but once again drifted lower on the back of fresh selling in select shares.

At 12:59 PM, the S&P BSE Sensex is trading at 29,559 down 87 points, while NSE Nifty is trading at 8,884 down 30 points.

In the broader market, the BSE Smallcap index is up 0.3 per cent at 11,398, while the Midcap index is flat at 10,812.

Among sectors, the Metal index is still trading with a loss of over a per cent at 10,182. The IT index has declined 0.4 per cent at 11,113. The Bankex and Power indices are also down 0.2 per cent each.

On the other hand, the BSE Realty index has jumped 2.3 per cent at 1,759. The Oil & Gas index has spurted 1.4 per cent at 10,197. The Consumer Durables index has advanced almost a per cent at 10,882 and the FMCG and Natural Gas have added 0.2-0.3 per cent each.

The breadth is neutral in early noon deals - out of 2,644 stocks so far traded on the BSE 1,265 stocks have advanced, while 1,263 stocks have declined.

Among Sensex-30 stocks, Coal India is the top loser, down 3.4 per cent to Rs. 371 ahead of stake sale plan.

HDFC has slipped over 2 per cent at Rs. 1,314. ICICI Bank and Bharti Airtel have dropped around 2 per cent each at Rs. 377 and Rs. 367, respectively.

Mahindra & Mahindra has shed 1.5 per cent at Rs. 1,294. Sun Pharma, Sesa Sterlite, SBI, Tata Steel and Maruti Suzuki are the other losers - down over a per cent each.

On the other hand, Reliance is the top gainer - up almost 3 per cent to Rs. 932. Dr Reddy's and HDFC Bank have jumped over 2 per cent each at Rs. 3,311 and Rs. 1,080, respectively.

Hindustan Unilever has spurted almost a per cent at Rs. 940. ITC, Gail India and Hero MotoCorp have also gained 0.4-0.7 per cent each.