Markets off day's low

Markets have been trading at lower levels but has recovered somewhat now.

The Sensex after opening weak at 17,080 touched a low of 6,823. The index is now down 173 points at 16,915.

The Nifty is down 50 points at 5,074.

Most sectoral indices are in red. The BSE metal index continues to be weak and is down 2% at 16,121. The realty, power and IT indices are down around 1% each.

Tata Motors has dropped 2.5% to Rs 814. Sterlite has shed 2.3% at Rs 732. Hindalco has slipped 2% to Rs 160.

HDFC, Wipro and Bharti Airtel have declined 2% each.

ITC is down 2% at Rs 258. Other losers in the index include Mahindra & Mahindra, Reliance Infrastructure, Reliance Communications, HDFC Bank and Larsen & Toubro, BHEL and DLF.

Infosys, ACC and Tata Steel have dropped 1% each.

However, Cipla has gained 2.3% at Rs 344. Hindustan Unilever has aded 2% to Rs 233.

The BSE market breadth is negative. Out of 2,826 stocks traded, 1,732 have declined while 995 have advanced.