Sensex slips below 29000 ahead of Rail Budget 2015; Nifty tests 8750

NEW DELHI: The S&P BSE Sensex started on a cautious note and slipped below its crucial psychological level of 29k following muted trend seen in other Asian markets. The fall in the index was led by losses in Infosys, Dr Reddy’s Laboratories, Tata Power and Tata Steel.

Tracking the momentum, the 50-share Nifty index also came under bit of pressure and was trading near its crucial psychological level of 8750, weighed down by losses in FMCG and IT stocks.

At 09:30 a.m.; the 30-share index was at 28938.61, down 70 points or 0.24 per cent. It touched a high of 29069.13 and a low of 28936.18 in trade today.

The Nifty was at 8744.75 down 23 points or 0.26 per cent. It touched a high of 8786.05 and a low of 8742.00 in trade today.

The S&P BSE Midcap Index was down 0.02 per cent and BSE S&P Smallcap Index edged higher by 0.06 per cent.

Bharti Airtel (up 1.2 per cent), Sesa Sterlite (up 1.2 per cent), Tata Motors (up 0.75 per cent), ONGC (up 0.38 per cent) and HDFC (up 0.32 per cent) were among the major Sensex gainers.

Tata Power (down 2 per cent), Axis Bank (down 1.2 per cent), Dr Reddy’s (down 1.2 per cent), BHEL (down 1.1 per cent) and Infosys (down 1.07 per cent) were the major index losers.