The market is sliding away swiftly. The Sensex is down 121.40 points at 26465.15 and the Nifty is down 37.90 points at 7976.00. About 846 shares have advanced, 1498 shares declined, and 178 shares are unchanged. Vedanta, HDFC, BHEL, Tata Steel and Dr Reddy's Labs are laggards while Coal India, Hindalco, Infosys, GAIL and M&M are top gainers in the Sensex.
The rupee is also at 2-week low, standing at 64.24 per dollar, down 0.12 percent from previous close. Meanwhile, amidst the dry spell fears that loomed over India for long, the monsoon has surprised positively. The country has received 13 percent more-than-normal rainfall as of June 15.
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