15 Feb 01.10 PM: Indices slip into the red on Asian weakness

15 February 2006

After opening firm, both indices came under pressure as Asian markets declined considerably from their early gains. The Japanese Nikkei has given up more than 1.5 per cent while Kospi of South Korea is trading nearly 2 per cent lower.

The Sensex saw a new intra-day lifetime high of 10192 before declining. The index dropped more than 150 points from the highs of the day at one point before staging a marginal recovery. The index is trading lower by 7 points at 10079 at 01.10 PM.

The Nifty also declined substantially from the early highs around noon and is trading at 3007, lower by 10 points.

Bajaj Auto is holding on to its early gains and is now trading 4 per cent higher. There is market speculation that the company would announce the de-merger of its investment division sooner than expected.

Nalco has given up part of its early gains and is now trading with gains of more than 2.5 per cent.