SENSEX SLIPS 400 PTS, NIFTY BREAKS 8100; TATA MOTORS DRAGE

The market cracked further in noon trade, weighed by major selling in banks, FMCG, capital goods and auto stocks. Inflation and monsoon worries may be hurting the sentiment on Dalal Street. The Sensex fell 456.71 points or 1.68 percent to 26731.67 and the Nifty dropped 123.90 points or 1.50 percent to 8112.55. Five shares declined for every share advancing on the Bombay Stock Exchange. ITC and Tata Motors topped the selling list on Sensex, down 4.6 percent each followed by ICICI Bank and Tata Power with 4 percent loss.
From the financial space, Axis Bank, ICICI Bank, SBI have lost between 0.5- 1.5% each whereas HDFC twins gained around 1% on the Sensex.
The rupee recovered marginally by five paise at 63.77 against the US dollar at Interbank Foreign Exchange after the greenback weakened overseas.
Shares of Nestle have dropped over 7% to Rs 6,310 on the Bombay Stock Exchange (BSE) after the Delhi government summoned officials of Nestle India claiming that the samples of Maggi noodles fail to meet food safety norms and are unsafe.
On the gaining side, Coal India is leading the chart on BSE with around 1.6% gains.  Other notable gainers on the Sensex are Wipro, Reliance Industries, NTPC, all gaining between 0.7-1.1 % each.
Shares of Adani Enterprise have plunged 80% to Rs 124 on the Bombay Stock Exchange (BSE) on reports stating that the company separated its port and power arm and merged them with Adani Ports and Adani Power business.
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