Nifty down below the 5900 points. But follwoings going up Bajaj Auto, ICICI, HDFC.

Developers will have to now rely more on internal business cash flows to service debt and improve execution. This will have to be funded by increased sales and new launches at attractive prices. We expect prices in metros to correct by 10-15% with Mumbai seeing a sharper correction at 15-20%,” said Parikshit Kandpal, analyst, Ambit Capital.

At 10 am; National Stock Exchange’s Nifty was at 5886.70, up 20.95 points or 0.36 per cent. The broader index touched a low of 5858.20 and high of 5900.15 in trade so far.

Bombay Stock Exchange’s Sensex was at 19551.26, up 91.41 points or 0.47 per cent. The 30-share index touched a low of 19470.88 and high of 19600.88 in today’s trade.

Sectorally, BSE IT Index was up 1.17 per cent, BSE Auto Index moved 0.96 per cent higher and BSE Healthcare Index gained 0.67 per cent. BSE Realty Index was down 2.75 per cent and BSE Bankex was up 0.32 per cent.

Shares of the banks allegedly involved in the scam continued to slip lower.

Money Matters Financial tanked 20 per cent, Bank of India was down 3.25 per cent, LIC Housing Finance slipped 1.22 per cent, Punjab National Bank declined 3.38 per cent. Central Bank of India recovered 3.28 per cent.

Nifty gainers pack included Bajaj Auto (2.47%), ICICI Bank (2.21%), HDFC (2.03%), Tata Motors (2.01%) and Infosys Technologies (1.83%).

Suzlon Energy (-2.38%), Power Grid (-2.16%), DLF (-2.15%), Kotak Bank (-2.08%) and BPCL (-1.72%) were amongst the major losers.