Sensex plunges in negative zone (for Stock review blog)

MUMBAI: The Bombay Stock Exchange benchmark Sensex slipped nearly 100 points in the early trade, after remaining in the positive zone for two straight sessions, as funds and investors indulged in booking profits at higher levels amid a weak trend in the global markets. At 11.50 am, the Sensex was up 0.8 points, to 15,467. However, it was down 22.67 points to 15,444 at 11.30 am.

The 30-share barometer, however, had surged to 15,568.74 points at the outset. The wide-based National Stock Exchange index Nifty was down 2 points at 4,653.25 points. The market breadth was negative as the broader indices were quiet in trade.

Telecom, pharma, metal stocks and individual stocks like NTPC, HDFC Bank, ITC, L&T, ICICI Bank, Tata Motors and M&M were witnessing buying interest. However, downtrend in oil & gas, technology, select cement and power stocks was putting pressure on the markets. Among the broader indices, the BSE Midcap Index was up 0.5% and the Smallcap was flat. About 1137 shares advanced while 1643 shares declined on the BSE.