Sensex slips by 100 points, Nifty holds 11,000

Mumbai, Aug 20: The Sensex and Nifty fell after initial gains on Tuesday awaiting a stimulus package from the government.

According to reports, the Union government is working on a stimulus package to revive economic growth.

At 10.18 a.m., the Sensex was down 104.36 points or 0.28 per cent to 37,298.13.

The benchmark index opened at 37,441.75, slightly higher from its previous close of 37,402.49.

The broader Nifty was trading 48.05 points lower at 11,005.85.

Asian markets however, gained over hopes of a stimulus by governments to temper anxiety about a global recession.

Meanwhile, Foreign Institutional Investors sold stocks worth Rs 305 crore while domestic investors bought scrips of Rs 386 crore value.