Market continue to trade in red

Markets continue to trade weak this morning.

The Sensex is down 57 points at 16,371. The Nifty is down 21 poinst at 4,893.

The metal index has dropped ver 1% in trades. However, the consumer durables, healthcare and IT indices are holding on to gains.

Tata Steel has dropped 2% to Rs 572. Sterlite has shed 1.4% to Rs 777. Hindalco is down marginally at Rs 152.

Maruti is the loser among auto stocks. It is down 1.6% at Rs 1,358. Mahindra & Mahindra has slipped 1% to Rs 1,015.

Reliance has declined 1.5% to Rs 1,016. Jaiprakash Associates, Reliance Communications and Reliance Infrastructure are down 1% each.

On the other hand, HDFC Bank and Hero Honda are up 0.7% each at Rs 1,666 and Rs 1,707, respectively.

The BSE market breadth is positive. Out of 2,276 stocks traded, 1,177 have advanced while  1,009 have declined.