New Delhi: The stock markets, which made a sharp recovery yesterday, slipped into the red on Tuesday within the first few minutes of trade, slipping by 50.13 points due to deepening political backlash between Government and the Left.
Asian markets have given up most of its gains and are trading mixed. Breadth has also collapsed in negative with over 600 stocks in red and nearly 400 stocks on the advancing side on NSE.
At 10.55 am, the Sensex is down 67.52 points or 0.47% at 14360.03, and the Nifty down 24.60 points or 0.58% at 4184.45. About 1415 shares have advanced, 1520 shares declined, and 71 shares are unchanged.
The Bombay Stock Exchange's 30-share index, Sensex, rose by over 106 points to touch a high of 14,534.51 over Monday’s close of 14,427.55. However, it fell back to 14,377.42 at 10.30 am, down by 50.13 points from previous close.
The broader S&P CNX Nifty of the National Stock Exchange (NSE) was also quoted down by 13.75 points, or 0.33 per cent, at 4,195.30 from previous close of 4,209.05.
Attributing the firm start to encouraging global trend, market players said investors seemed unwilling to make any fresh commitments in the light of a political stalemate arising from the UPA-Left impasse on the nuclear deal.
All the indices on the BSE lost their initial gains and were marginally down after a promising beginning
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