Sensex dips by 189 points in early trade

Mumbai, Jul 1 : The 30-scrip index of Bombay Stock Exchange (BSE) today fell by 189 points to 17,511.06 in the opening session, erasing overnight gains, on profit booking at higher levels by local operators.

It had ended in green at 17,700.90 points, with a gain of 166.81 points, yesterday.

The Nifty of National Stock Exchange (NSE) opened steady at 5,312.50 points, before declining by 68.35 points to 5,244.15.

The Sensex recorded the intra-day high and low at 17,679.34 and 17,470.31 points respectively, while the Nifty registered the high at 5,312.55 and low at 5,238.35 points.

The market slid in the opening trade following weak global cues, which reacted to disappointing Chinese and US economic data.

Metal, realty, banking, oil and gas, technology and auto were the major losers. However, the broader indices were quiet, traders said.

Nikkei fell 2.3 per cent and Kospi lost 1.33 per cent. Taiwan, Jakarta and Hang Seng slipped by between 0.5 and 0.9 per cent.

About 485 shares advanced, while 708 shares declined on NSE.

In the midcap space, Jain Irrigation, IBN18 Broadcast, Indiabulls Power, HOEC and Atlas Copco were up by between three and 3.6 per cent, while Redington, Gee Kay Finance, Kwality Dairy, Amtek Auto and Simplex Infra fell by between 2.6 and five per cent.

In the smallcap space, Kiri Dyes Chemical, Ramcoind, Mirc Electronic, Hatsun Agro and KSB Pumps went up by between five and 12.6 per cent, while Agro Tech Foods, WABCO-TVS, Tilaknagar Ind, Nirlon and Reliance Media slipped by between three and eight per cent.

Scrips that were in red included Sterlite Industries by 3.09 per cent to Rs 164.60, Relincae Comm by 2.50 per cent to Rs 193.35, ICICI Bank by 2.02 per cent to Rs 844.60, Tata Steel by 1.94 per cent to Rs 476.20 and Hindalco by 1.70 per cent to Rs 142.05 per cent.

However, Hind Unilver gained 0.75 per cent to Rs 268.90 and Bharti Airtel inched up by 0.36 per cent to Rs 264.20.