Markets slide lower in morning trades

Metal stocks have dragged markets lower in early trades. The Sensex has touched a low of 17,481 and is now down 189 points at 17,512.

The Nifty is down 64 points at 5,249.

Markets had dropped in opening trades on weak cues from US and Asian markets. US markets slipped on Wednesday as data dampened investor confidence.

Among the sectoral indices, BSE metal index has shed 1.5% to 14,482. Oil, bankex, realty and IT are the other losers.

Sterlite has slumped 3% to Rs 165. Reliance Communications and ICICI Bank have shed 2.3% each to Rs 194 and Rs 842, respectively.

Auto stocks are down. Maruti has dipped 2% to Rs 1,395. Tata Motors is down 1% at Rs 770. Hero Honda and Mahindra & Mahindra are flat in trades.

Hindalco and Tata Steel have dropped 1.9% each to Rs 142 and Rs 477, respectively. TCS, Reliance Infrastructure, Wipro and DLF have slipped over 1% each.

Market heavyweight, Reliance, has slipped 1% to Rs 1,073.

BSE market breadth is neutral. Out of 2,366 stocks traded, 1,156 have declined while 1,126 have advanced.