Reliance Power IPO slips below issue price

Mumbai, Feb 11: The Bombay Stock Exchange benchmark Sensex moved down by 386 points in early morning trade on heavy selling by funds triggered by week global trend.

The 30-share index, Sensex, slipped down 385.91 points to 17,078.98 points in the first five minutes of trade as most of the heavy-weight stocks plunged on brisk selling. Similarly, the wide-based National Stock Exchange's Nifty fell by 114.85 points to 4,975.85. Meanwhile the mega issue of Reliance Power, which got listed on the bourses today, opened at a premium of over 20 per cent, but slipped below the issue price of Rs 450 and touched a low of Rs 393 in early morning trade.