Sensex slips by 127.91 pts after opening positive

Mumbai, Jan 30 (UNI) After opening with marginal positive gap in the early trade, the sensitive index (Sensex) of Bombay Stock Exchange slid into red tracking weak clues in Asian markets.

Resuming the day 30 points up at 18,120.22 from its previous close of 18,091.94, it soon slid by 127.91 points to touch an intraday low of 17,964.03 amid some volatility after Reserve Bank of India announced to maintain status quo keeping the key rates unchanged on Tuesday.

Similarly, Nifty index of National Stock Exchange opened the day almost flat at 5,283.75 and shed about 50 points to touch a low at 5,234.35 in the early trade.

The market breadth was weak. 21 shares from 30-stocks Sensex pack declined. On sectoral indices of BSE, except few, all were at marginal loss.

Frontliner stocks, Reliance Industries (RIL) was down by 0.69 per cent to Rs 2557.90. As per recent reports RIL plans to foray in engineering, procurement and construction business to clock a turnover of Rs 5,000 crore in first year itself and double it in the second year.

While, real estate stock DLF was at the gain of 1.6 per cent, State Bank of India was up by 1.10 per cent and Tata Steel gained 0.95 per cent.

However, Bajaj Auto slipped by 3.31 per cent and was the top loser from Sensex pack in the early trade. Followed by Mahindra&Mahindra down by 2.23 per cent, ITC down by 1.69 per cent and Hindalco Industries down by 1.42 per cent, were the other losers from Sensex pack.

As per provisional data, foreign institutional investors (FIIs) sold shares worth Rs 546.09 crore on January 29, 2008. Domestic institutional investors (DIIs) were net buyers of shares worth Rs 98.82 crore on the same day.

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