Market slips in morning deals

Despite surging yesterday, the market has started the day on a negative note, following weak global cues.

The NSE Nifty opened with a loss of 15 points at 7,865, while the BSE Sensex was up 31 points at 26,063.

Soon, the key benchmark indices drifted sharply into red on the back of fresh selling in select shares.

The benchmark indices have touched a low of 7,785 and 25,687, respectively.

Now, the NSE Nifty is down 19 points at 7,785 and the BSE Sensex is also down almost 115 points at 25,917.

The broader market, too, started in red, the CNX Midcap and Smallcap indices have shed 1.6-2 percent each at 12,582 and 4,908, respectively.

There are no gainers in sectoral indices, the CNX PSU Bank index has slipped 2 percent at 3,169. The Realty, Auto, Pharma and IT indices have dropped 1.5 per cent each.

The Bank Nifty, Metal, Finance and Infra indices are also down over a percent each.

Vedanta is the top loser in Nifty-50, down over 3 percent to Rs. 84. Hero MotoCorp and Dr. Reddy's have plunged almost 3 percent each at Rs. 2,393 and Rs. 3,989, respectively.

BHEL, ICICI Bank, Tata Motors, Bank of Baroda, Infosys, Yes Bank and Tech Mahindra are the other significant losers.

On the other hand, Cairn India has spurted over a percent at Rs. 127. HDFC and Wipro advanced nearly a percent each at Rs. 1,154 and Rs. 545, respectively.