Sensex down 136 points on Asian decline

(Under arrangement with Thomas White Global Research)

Frontline Indian indexes have slipped from their mid-morning levels as select technology, cement and metal stocks have come under pressure. Other Asian markets have lost heavily, led by Shanghai which ended 4.5 per cent lower, while Europe has also opened lower.

Sensex is trading lower by 136 points at 13536 at 02.30 PM IST.

Nifty is now trading lower by 38 points at 3974.

Satyam has resumed its down trend and has lost over 3 per cent. Infosys continues to trade with losses of nearly 2 per cent.

ACC has come under pressure and has lost over 3.5 per cent.

Zee Entertainment is the worst performer among Nifty stocks with losses of nearly 4 per cent.

Among metals, Sterlite and Tata Steel remain weak by nearly 2 per cent each.

Bajaj Auto has lost close to 2.5 per cent.

HDFC remains weak by over 2 per cent.

BHEL and Tata Power are the other major losers.

SBI has added close to 1.5 per cent while PNB has gained over 0.5 per cent.

ITC is the best performing Nifty stock, with gains of over 1.5 per cent, while Dabur has gained over 0.5 per cent.

Gujarat Ambuja is holding on to gains of over a per cent.

Gail India is now trading over 0.5 per cent higher while HPCL is holding on to modest gains.

Ranbaxy has added nearly a per cent.

Glaxo and Hero Honda are the other gainers among Nifty stocks.

Mid-caps and small caps have also declined after gaining modestly in morning trading. The NSE mid-cap index is now trading with losses of over 0.35 per cent. BSE mid-cap index has lost 0.4 per cent and the BSE small-cap index is trading nearly 0.25 per cent higher.

Advanta India, which got listed on the exchanges today, is now trading at Rs823 against an issue price of Rs640.

SB&T International, Adhunik Metaliks, VST Industries, Khandwala Securities, Bihar Caustics, Khaitan Limited, BOC and India Glycol are the major gainers among mid-caps and small caps

Bajaj Hindustan has lost more than 5.5 per cent in early afternoon trading.

Ennore Foundries, Atlanta, Shasun Chemicals, Sarla Poly, Orient Press, Steel Strips Wheels, Pudumjee Agro and Softpro Solutions are the other major losers among mid-caps and small-caps.

Thomas White Global Research, part of the Thomas White International Group, publishes capital market research for global institutions and investment banks, and is headed by Thomas White, a former managing director of Morgan Stanley Asset Management.

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