Sensex slips below 28000 on weak global cues; Tata Motors up 3%

NEW DELHI: The S&P BSE Sensex slipped as much as 79 points in trade on Monday tracking Asian markets which were trading lower led by Nikkei after official data showed Japan's economy dropped into a recession.

Tracking the momentum, the 50-share Nifty index slipped over 20 points in trade, weighed down by losses in IT, metal, pharma and metal stocks.

Tata Motors Ltd surged as much as 2.9 per cent in trade even though India's largest automobile company by revenues, posted a 7 per cent decline in consolidated net profit for the second quarter ended September.

At 09:20 a.m.; the 30-share index was at 28,013.77, down 33 points or 0.12 per cent. It touched a high of 28052.27 and a low of 27969.01 in trade today.

The Nifty was at 8374, down 15 points or 0.20 per cent. It touched a high of 8382.60 and a low of 8362.80 in trade today.