Sensex slips to day's low; realty, metals drag

MUMBAI: Small intra-day recovery in equities was short-lived as traders chose to book profits at higher levels. Realty and metal stocks were the
worst performers.

At 1 pm, Bombay Stock Exchange’s Sens*x was at 9152.40, down 271.84 points or 2.88 per cent. It touched an intra-day low of 9152.40 and high of 9363.58.

National Stock Exchange’s Nifty was at 2788.05, down 86.75 points. The broader index touched a low of 2787.75 and high of 2873.45.

“Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 2875 level while significant resistance at higher levels (2910) – would limit the upside. The outlook has turned neutral again while resistance comes in at the 3250+ level and support comes in at the 2497 level,” said Asit C Mehta note.

BSE Midcap Index was down 0.56 per cent and BSE Smallcap Index slipped 0.54 per cent.

All sectoral indices were in red with realty being the worst hit on account of poor results. BSE Realty Index was down 7.54 per cent, BSE Metal Index fell 4.62 per cent, BSE Bankex declined 2.84 per cent and BSE Oil&gas index was down 2.62 per cent.

Losses in DLF (-10.67%), Jaiprakash Associates (-8.59%), Jaiprakash Associates (-8.59%), HDFC (-6.04%), Hindalco Industries (-5.4%) and Tata Steel (-5.39%) dragged the Sens*x lower.

Maruti Suzuki, up 0.88 per cent, was the lone gainer in the 30-share index.

Market breadth on BSE remained weak with 1267 declines against 886 advances.