Markets continue to trade weak

After a weak start, the Sensex has declined further to a low of 16,154, and is now down 116 points at 16,211.

The Nifty is down 39 points at 4,848.

All indices, barring FMCG and IT are in the red. The BSE realty and metal indices have dropped around 2% each.

The BSE market breadth is marginally negative. Out of 2,279 stocks traded, 1,352 have declined while 850 have advanced.

Metal stocks continue to trade weak. Sterlite has extended losses and is down 2.6% at Rs 748. Tata Steel has dropped 2% to Rs 566. Hindalco is down 1.5% at Rs 150.

Jaiprakash Associates has slipped 2.4% to Rs 132. DLF has dipped 2.2% to Rs 297.

Reliance Communications, SBI, NTPC and Mahindra & Mahindra have declined 1.5% each.

Other losers include Larsen & Toubro, ICICI Bank, Reliance and Hero Honda.

On the other hand, ONGC has added 0.8% to Rs 1,108. Maruti and Hindustan Unilever is up marginally at Rs 1,371 and Rs 243, respectively.