Sensex slips into the red after firm opening

Mumbai, Nov 3: After opening on a firm note, the Sensex today slipped into the red, brokers here said.

At 11:00 hrs the Sensex was down 19 points at 13,072 points.

The market had opened on a firm note and the Sensex had risen as much as 43.67 points to a high of 13,134.79 points.

C&P Nifty index of the National Stock Exchange (NSE) also opened high at 3793.05 points from it last close of 3791.20 points. The index recorded high and low at 3,806.35 and 3777.05 points respectively on intra-day session. The current index is flat at 3,791.60 points.

The market breadth was positive. 939 shares rose on BSE as compared to 713 shares that declined. 67 shares were unchanged.

Gainers outpaced losers by a ratio of 1.3:1.

Reliance Industries shed 0.4 per cent (pc) to Rs 1277.95.

Reliance Industries (RIL)'s first retail stores opens in Hyderabad today. RIL is investing a massive Rs 25,000 crore in retailing, by setting up a nationwide retail chain of hypermarkets, supermarkets, discount stores, department stores, convenience and speciality stores.

Tata Steel rose 0.4 per cent to Rs 489. Steel maker Severstal has ruled out a possibility of bidding for Anglo-Dutch rival Corus Group, London's Financial Times said today. This would imply that Tata Steel is more likely to succeed in taking over Corus, the newspaper said.

Ranbaxy Laboratories was up 0.2 pc to Rs 405 after the company got a tentative approval from US regulators to make cetirizine hydrochloride syrup, 5 mg/ 5 ml, yesterday.

Cetirizine syrup, which has total annual sales of USD 146.3 million, is used to treat seasonal allergic rhinitis caused due to allergens.

NTPC gained 0.8 per cent at Rs 130.50. ONGC was up 2.4 per cent at Rs 859.50. Software major Infosys was down 0.5 per cent at Rs 2073 and slipped for the second day in a row on profit taking.

Voltas surged in opening trade on high early volumes. The scrip was up nearly 7 per cent at Rs 106.90. 10.3 lakh shares changed hands at the Bombay Stock Exchange counter, brokers added.

UNI

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