Markets slip in opening trades

Markets have opened in the red o global cues. The Sensex is down 64 points at 17,643. Nifty meanwhile, is down 18 points at 5,350.

The Indian markets are likely to trend down in trade today tracking global cues. US stocks closed flat in another thinly traded session on  Wednesday. The Dow Jones industrial average was up 5.75 points, or 0.04 per cent, at 12,883.95. The Standard & Poor's 500 Index was up 2.91 points, or 0.22 per cent, at 1,349.96.

Asian markets and the euro struggled on Thursday, as sentiment grew cautious after Greek political leaders said talks would continue to resolve one remaining issue standing in the way of a deal on a bailout package, which is crucial to avoiding a debt default.

BSE metal and IT indices have slipped nearly 1% in opening trades. The metal index has dipped 0.9% to 11,933. Oil & gas and banking shares have also slipped marginally. However, realty index is holding on to gains and is up 0.7% at 1,881.

Hindalco has shed 5% to Rs 153 ahead of its quarterly numbers to be annunced later today, Sterlite and Tata Steel from the metal pack has dipped 1-2% each.

From th IT lot, TCS and Infosys have shed 1% each. Other losers include Larsen & Toubro, SBI and Bharti Airtel.

ONGC has reacted to the 5% drop in its December quarter and is down 0.7% at Rs 281.

Gammon Infra has secured 1,684-crore NHAI project. The stock has zoomed 13% to Rs 17.25.

Jubilant FoodWorks has added 3% to Rs 973 on reporting 55.51 per cent jump in its net profit for the third quarter ended December 2011.