Markets slip into red

The markets have slipped into red,on account of selling pressure seen in cement shares.
At 13.07 pm the sensex was down 75 points at 12622 and the nifty was down 28 points at 3628.

The latest news from capitalmarket quotes that"The government said it will review the increase in cement prices after companies passed on higher excise duties to customers. Commerce Minister Kamal Nath said he will hold meetings with officials in his ministry to ensure there is “no profiteering” by cement makers.While the government cannot ask cement companies not to pass on the increase in levy, it is trying to find a “way out” of the situation, he added."

Gujarat Ambuja has plunged 5% to Rs 108, and ACC has crashed 4.5% to Rs 816.