Sensex dips sharply in afternoon session

Mumbai, May 4 (UNI) Markets dipped sharply by 218 points this afternoon to a low of 12,264 on the BSE Sensex, after rising to an all-time high of 12,482 in the first-half of day's trading.

The 30-share sensitive index (Sensex) traded 48 points up at 12,359, at 1434 hrs, as compared to the last close of 12,310.72.

Index heavyweight Reliance Industries was up by 4.37 per cent to Rs 1,080 with a gain of Rs 48.39 per share.

Other top gainers on the Sensex were - HDFC Bank, Tata Power, Tata Motors, HDFC, Tata Consultancy Service, Infosys, ONGC and ITC.

Stocks trailing on the Sensex were Gujarat Ambuja Cements, Hindalco, HLL, NTPC, Larsen&Toubro, Bajaj Auto, Hero Honda, Grasim Industries, Maruti and Tata Steel.

The crude oil prices hovered around USD 72.11 per barrel this morning, considerably lower than US 74 to 75 per barrel quoted yesterday.

Sensex has gained more than 1,000 points since last Friday, when it dipped to a low of 11,344 points.

Earlier today, the Bombay Stock Exchange (BSE) Sensex opened higher at 12,343, as compared to the last close of 12,310 points, and soon crossed the 12,400 mark. It later touched a new all-time high of 12,482.91 points.

The National Stock Exchange (NSE) S&P CNX Nifty index opened four points down at 3,630.65, as compared to the last close of 3,634.25 and touched a high of 3,674.80 points.

Nifty traded two points down at 3,632, at 1451 hrs.

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