Markets continue to slide

Markets have extended losses on weak cues from Asian markets and selling in metal and oil stocks.

The Sensex dropped 226 points from the day's high to touch a low of 17,552. The index is now down 193 points at 17,581.

The Nifty is down 63 points at 5,270.

All the sectoral indices are in red. The metal index has dropped 2.5% to 14,667. Oil, realty, power and bankex have followed.

Hindalco has slumped 4.7% to Rs 144. Tata Steel has shed 3% at Rs 485. Jindal Steel has dropped 2.3% to Rs 622. Sterlite is down 2% at Rs 167.

Reliance Infrastructure has dropped 2.5% to Rs 1,184. Jaiprakash Associates has slipped 2.4% to Rs 128.

HDFC Bank, Reliance Communications, Tata Motors, ONGC, HDFC, Mahindra & Mahindra are the other big losers in the index today.

ICICI Bank, CIPLa, BHEL, DLF, Hindustan Unilever and Wipro have also shed more than 1% each.

Reliance has declined 1.3% to Rs 1,073