Sensex slids into red amid high volatility

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Mumbai, Jan 9 (UNI) The Bombay Stock Exchange (BSE) sensitive index dived southwards by nearly 200 points at 20,701.49 on weak global cues amid high volatility, in the early trade today.

Resuming marginally up at 20,903.00 from its previous close of 20,873.33, it and soon slipped into negative zone on offloading of shares. However, it recovered in the mid-morning trading session as the Sensex recovered around 100 points from its intra-day low on selective buying.

Similarly, the Nifty index on National Stock Exchage (NSE), after opening almost flat, skid 56.30 points to touch a low of 6,231.25 from its previous close of 6,287.85 in the early trade.

Reliance Industries edged lower. IT and FMCG stocks were at gain. Metal stocks edged lower. BSE mid-cap and small-cap indices underperformed Sensex. The market breadth was weak on BSE. Asian markets, which opened before Indian market, were mostly lower today and US markets pluged deep, yesterday.

The BSE Mid-Cap index was down 1.22 to 9,696.85 and Small-Cap index was down 2.03 to 13,341.50. Both the indices underperformed Sensex.

Frontliners, Reliance Industries was down 0.42 per cent to Rs 3,037.70, ICICI Bank fell 1.53 per cent to Rs 1313.15, Bharat Heavy Electricals down 1.7 per cent, Bharti Airtel down 1.23 per cent, while NTPC was up 2.54 per cent to Rs 272 and HDFC Bank was up, marginally.

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