Equity Alert: Indices down 1% but off lows; Cairn India, L&T gain
MUMBAI--10:10AM--Market was down 1% but off the 2% low made at
open on
buying in select large-cap stocks. Rise in crude oil prices kept
sentiment
under pressure, dealers said.
Sensex was at 13845.07, down 149.89 points, or 1.05%. Nifty was at
4177.45, down 45.60 points, or 1.1%.
Cairn India, up over 2%, was the top Nifty gainer, while Bharat
Petroleum
Corp slipped 2% as crude oil was trading at $109 a barrel on NYMEX
today.
Larsen & Toubro rose 1%, finding some support from the relaxation
in
external commercial borrowing norms late Monday.
Shares of real estate companies were the worst hit, with DLF down
3.5%
and Unitech down 2%. Ranbaxy and Wipro, down nearly 4% each, were
other major
laggards.
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