Markets continue to languish

The Sensex has continued to trade in red and is now down 91 points at 16,173.

The Nifty is down 22 points at 4,807.

Sterlite has dropped 3% to Rs 725. Hindalco and ONGC have shed 2% each at Rs 121 and Rs 1,155, respectively.

DLF, Reliance Communications, ICICI Bank and Reliance Infrastructure have slipped 1.5% each. Larsen & Toubro, ACC, TCS, Tata Motors, Tata Power and Reliance have also declined.

Meanwhile, Tata Steel has added over 1% to Rs 475. Jaiprakash Associates and Wipro have moved up 1% each.

The market breadth is failry negative. Out of 2,326 stocks traded 1,219 have declined while 1,042 have advanced.