Sensex slips below 17K in opening session

Mumbai, May 9: Continuing its southward journey for the fifth day in the week, the Bombay Stock Exchange (BSE) sensitive index today dipped below the 17,000 mark, after a negative opening. Resuming at 17,020.79, nearly 60 points below yesterday's close of 17,080.65, it dropped further down to plunge to 16,974.62 points barely five minutes into the trade, following profit bookings by local operators.

However it gradually regained the breached position but drifted low atleast by 14 points. Key heavy weight stocks edged lower in opening trade, extending the decline for the fifth straight session. Weak Asian markets and soaring crude oil prices dampened the sentiments. Investors were also cautious ahead of the inflation data for the year through April 26, which is expected by this noon. IT and banking shares received the battering. Realty stocks were in positive territory. The market breadth was positive. Asian markets were trading lower. Key indices in China, Hong Kong, Japan, Singapore, South Korea and Taiwan were down by 0.24 per cent (pc) to 1.93 pc.

The current 30-share BSE Sensex was down by 14.29 points or 0.08 pc at 17,066.36. The index lost 106.03 points at day's low of 16,974.62, hit in early trade. The broader based S&P CNX Nifty was down by 7.45 points or 0.15 pc at 5,074.25 points, from it last close of 5,081.70. The Nifty also opened low at 5,070.85, later it recorded the day's high at 5,082.35 and low at 5,039.65 points, during the mid-morning session. The BSE Mid-Cap index, however, rose by 0.09 pc to 7,159.65 and BSE Small-Cap index also gained 0.23 pc to 8,709.04.

The top Sensex gainers were, Bharti Airtel was up by 2.43 pc at Rs 847, followed by DLF by 1.68 pc at Rs 654.60, Grasim Industries by 1.12 pc at Rs 2,356.10, Reliance Communication by 0.41 pc at Rs 545.15, Cipla by 0.45 pc at Rs 212.50, and ITC by 0.21 pc at Rs 215.50.

Top Sensex losers were Housing Development Finance Corporation came down 1.21 pc at Rs 2687.70 followed by ACC by 1.18 pc at Rs 735, Bharat Heavy Electricals by 1.06 pc at Rs 1,741.50, Infosys Technologies by 0.44 pc at Rs 1,773 and Hindustan Unilever by 0.60 pc at Rs 249.45.

Aishwarya Telecom was the top traded counter in terms of turnover. The stock was up by 2.31 pc at Rs 99.70 on a turnover of Rs 93.12 crore.

UNI