Weakness continues

The Sensex continues to exhibit weakness. The Sensex is now at 16,051, down 100 points from the previous close. The NSE Nifty is at 4,798, down 30 points from the previous close.
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(Updated at 1159hrs)

The Sensex has slipped further into the red and is now at 16,062, down 91 points. The NSE Nifty is at 4,797, down 29 points.

The BSE bankex and the TECk indices have slipped around 1% each.

Bharti Airtel is the major loser on the BSE, down 5.5% at Rs 297. Sterlite and Reliance Communications  have declined 2.5% each to Rs 747 and Rs 165, respectively.

The other prominent losers are ONGC, DLF, SBI, Hindustan Unilever and ICICI Bank, down 1% each.

Among the list of gainers, BHEL, Mahindra & Mahindra and Tata Motors have advanced over 1% each to Rs 2,354, Rs 997 and Rs 692, respectively.

The market breadth is maginally positive, out of 2,600 shares traded, 1,300 have advanced and 1,206 have declined so far on the BSE.