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    Sensex slips below 9,000

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    The market today has opened red. With slipping below 9,000 level, it started the day at 8973.21, down 397 points, and Nifty is trading at 2,721, down 114 points from Wednesday’s close.

    Wednesday turned out to be a good day for Indian markets that saw a strong short covering rally in last hour of trade led by the Reliance pack. Markets closed in green after four days of pain. While the thirty-share Sensex shut shop at 9370, up 299 points and fifty-share Nifty ended the day at 2835, up 90 points from Tuesday’s close.

    CNX Midcap index was up 2.36 per cent and BSE Smallcap index was up 1.26 per cent. There was buying in oil and gas, IT and realty stocks. The market breadth remained positive on Wednesday with advances at 803 against declines of 385 on the NSE.

    Top Nifty gainers included , Reliance Communication and RIL while losers included , and GAIL.

    — Shailesh Shah