Markets down in early trades

The Sensex opened weak this morning following subdued cues from its Asian peers. The Sensex opened at 16,827 and is now down 61 points at 16,798.

The Nifty slipped below the 5,000 mark in opening trades. The index has now recovered and is down 21  points at 5,015.

Asian markets are in red in morning trades. The Hang Seng has dropped 239 points (1%) to 20,486. The Nikkei has slipped 127 points (1.2%) to 10,463.

HDFC Bank has dropped 2% to Rs 1,646 in morning trades. Infosys and Sterlite have dropped 1.8% each to Rs 2,525 and Rs 804, respectively.

Wipro is down 1% at Rs 693.

On the other hand, Maruti Suzuki has gained 2% at Rs 1,459. Mahindra & Mahindra has added 1.5% to Rs 1,149. Grasim and ITC are up 1% each.