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Sensex Drops 400 Points In Early Morning Trade; Banking, Power Sector Slumped

MUMBAI: The Indian equity markets benchmark Sensex slipped nearly 400 points on Friday (December 24) due to selling pressure in banking and financial, power and auto stocks. The 30 stock S&P Sensex of the Bombay Stock Exchange opened at a positive note but slipped in the red in the early morning trade. At around 11.30 am the Sensex was trading at 56,918.35 points, 0.69% or 396.93 points lower from its previous day close at 57,315.28 points.

Earlier the Sensex opened in the positive at 57,567.11 points and touched a high of 57,623.69 points. Soon the markets turned negative and the Sensex slipped below 57,000-points mark. It touched a low of 56,813.42 points.

The broader Nifty 50 of the National Stock Exchange was trading at 16,935 points, 0.81% or 137.60 points lower from its previous day close at 17,072.60 points. The Nifty touched a high of 17,155.60 points and a low of 16,909.60 points in the intra-day.