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Sensex slips after a positive start
June, 20th 2008

Except index heavyweight Reliance Industries, Bharti Airtel, Reliance Communications and ITC, all other Sensex components surged higher amid cautious early trade on the major Indian bourses this morning. However, with a good number of its components turning easy after a positive start, the Sensex has shed almost its entire gains at present.

The Sensex, which rose to a high of 15,202.01 after opening at 15,168.05, has now drifted down to 15,097.50, up by just 9.51 points over its previous closing mark. The Nifty, which shot up to 4532 in opening trade, has dropped down to 4493.75, netting a loss of 10.50 points.

Ambuja Cements, HDFC, Infosys Technologies, Larsen & Toubro, Mahindra & Mahindra, ONGC, Ranbaxy Laboratories and Satyam Computer Services have gained 1% - 2%.

BHEL, DLF, Wipro, Tata Consultancy Services, Tata Steel and Tata Motors are up by nearly a per cent now. NTPC, ICICI Bank, HDFC Bank and ACC have also posted notable gains.

Cairn India, the biggest loser among Nifty stocks, is down by a little over 3% at Rs 275.50. Hero Honda and Zee Entertainment have lost 1.5% and 1.05% respectively. Dr. Reddy's Laboratories, Sterlite Industries, Sun Pharmaceuticals, Idea Cellular and GAIL India have also declined sharply.

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