Market Slipped, TCS, SBI, SAIL, HDFC Bank, Sterlite, Infosys, NTPC, Reliance Communication and Tata Steel fell 1-4%.

Posted by stockmarket

May 13, 2009

Market slipped again, after showing some signs of recovery. Both the equity benchmarks were extremely volatile, ahead of the election results on Saturday, as today is the last day of polling. The fall was led by selling in oil & gas exploration, technology, metal, FMCG, select financial and power stocks. However, there was some support from buying in Bharti, HDFC, PNB, Grasim, ACC, Reliance Infrastructure, DLF and Hindalco.

In the oil & gas space, ONGC fell 4.5% and Reliance Industries lost 1.2%. Among other frontliners, TCS, SBI, SAIL, HDFC Bank, Sterlite, Infosys, NTPC, Reliance Communication and Tata Steel fell 1-4%.

The Sensex was down 125 points, to 12,033 and the Nifty (oil & gas has more weightage) fell 42 points, to 3,639 at afternoon.

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