Markets continue to trade weak

Markets opened in the red and dropped lower on weak Asian stocks. The Sensex after touching a low of 17,418, has been trading around the same level. The index is now down 116 points at 17,441.

The Nifty is down 38 points at 5,239.

The BSE mid-cap and small-cap indices are however trading marginally in green.

Metal and IT stocks are still in the red. Hindalco has dropped 2.3% to Rs 174. Sterlite has shed 1.7% at Rs 814.

Hindustan Unilever has declined 1.3% to Rs 235.

Infosys has slipped 1.2% to Rs 2702. TCS is down 1% at Rs 758.

Reliance Infrastructure, Jaiprakash Associates, Larsen & Toubro and DLF are the other losers today. Market heavyweight, Reliance, has declined 0.8% at Rs 1,024.

However, auto stocks are up. Mahindra & Mahindra has gained 1% at Rs 532. Hero Honda has added 1% to Rs 1,926. Maruti Suzuki is marginally up at Rs 1285.

ICICI Bank and Reliance Communications are marginally in green.

BSE market breadth is neutral. Out of 2,436 stocks traded, 1188 have advanced while 1180 have declined.