The Indian markets have opened on a lacklustre note in line with the sideways movement seen in the global indices. The Sensex is quoting at 16,966, down 32 points and the Nifty is at 5046, down 7 points, thanks to selling pressure in IT, banking and technology stocks.

The U.S. stocks fell on Wednesday on worrisome outlooks from major software makers and a decline in new home construction last month. And the Asian stocks are trading in uncertain teritory.

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Tata Power, Bharti and ONGC have lost up to 1% each.

The leading gainers on the Sensex are Hero Honda (stronger by 1.3% at Rs 1,688), Sterlite (higher by 0.6% at Rs 870) and ITC (up 0.4% at Rs 259).

Out of 1,177 stocks traded on the BSE so far, there are 739 advancing stocks as against 401 declines.

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