Markets marginally in red

Rate sensitives like auto, banks weak while PSU stocks shine on disinvestment buzz

The Sensex touched a low of 17,249 mainly on weakness in rate sensitive stocks like autos and banks. The index is now down 68 points at 17,270. The Nifty has declined 19 points to 5,179.

The BSE PSU index has surged nearly 2% to 9286 on sharp gains in stocks like MMTC and Hindustan Copper. The Bankex, however, has slipped over 1% to 10,737 mainly on weakness in private banking stocks.

TCS has dropped 2% to Rs 765.

Maruti Suzuki, Cipla, ICICI Bank and Jaiprakash Associates have declined around 1.5% each to Rs 1,334, Rs 335, Rs 841 and Rs 122, respectively.

Mahindra & Mahindra, Tata Motors, SBI, Hindalco and Reliance are down around 1% each.

Sterlite and Reliance Communications continue to trade on a firm note, with gains of 2.5% and 2%, respectively.

ACC and Wipro are the other prominent gainers among the Sensex stocks.

The market breadth is almost neutral - out of 2,794 stocks traded so far, 1,354 have advanced, and 1,340 have declined.