Sensex down over 60pts in early trades

Markets have opened on a flat note today following cues from global peers. The Sensex opened down 10 points at 17,868. The index, thereafter, dropped sharply to a low of 17,779 and is now down 63 points at 17,813.

The Nifty is down 17 points at 5,335.

US markets ended lower as the excitement over China's yuan faded. The Dow dropped eight points to 10,442. The Nasdaq slipped 1% to 2,289.

Asian markets are also in red. Hang Seng is quoting at 20,826, weaker by 86 points or 0.4% and the Nikkei has opened at 10,175, lower by 62 points or 0.6%.

Most of the sectoral indices are trading soft. The metal index has dropped 1.5% to 15,339. IT, realty and bankex are also down.

Sterlite has dropped 3% to Rs 178 - after yesterday's stellar performance. Jindal Steel has shed 2% at Rs 674. Hindalco and Tata Steel are doqwn 1% each.

Jaiprakash Associates has slipped 1% to Rs 132. Infosys, Tata Motors and ICICI Bank are some of the other losers in the index today.

Meanwhile, Bharti Airtel has added 1% to Rs 267. Mahindra & Mahindra and Tata Power are up half a per cent each at Rs 641 and Rs 1,322, respectively.

FMCG stocks- ITC and Hindustan Unilever are up marginally at Rs 300 and Rs 260, respectively.